India's Index of Industrial Production rebounded in September with an expansion of 3.1 per cent as against a contraction of 0.1 per cent in August, data released by the Ministry of Statistics on Tuesday showed. While manufacturing output, which accounts for more than three-fourths of the IIP, recorded a growth of 3.9 per cent year-on-year in September. The sector plays a vital role in offering quality jobs to the young graduates passing out from the country's engineering institutes and universities.
According to an official statement, the top three positive contributors in the manufacturing sector for September 2024 are - 'Manufacture of coke and refined petroleum products' with 5.3 per cent, 'Manufacture of basic metals' with 2.5 per cent, and 'Manufacture of electrical equipment' with 18.7 per cent.
The data also showed that electricity generation rose 0.5% during the month and mining activity increased by 0.2%.
Industrial production for the April-September period of 2006-07 now works out to 4 per cent, compared to a revised 6.2 per cent in the same period a year earlier. The figures based on user classification show the production of capital goods, which include machineries used in factory production, increased by 2.8 percent. It reflects real investment happening in the economy with a multiplier effect in creating jobs and incomes going forward.
Output in consumer durables-comprising electrical goods, refrigerators, and TVs-increased by 6.5 per cent during September. This would also reflect better consumer demand for such items as incomes rise. The production of consumer non-durables such as soaps and cosmetics increased modestly by 2.0 per cent during the month. But the output of intermediate goods rose by 4.2pc in the month, while there was a rise of 3.3pc in Infrastructure/ Construction Goods compared to the same month of the previous year, the figures further showed.
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