In January, India's industrial production witnessed a growth of 3.8 percent, as per recent data released by the Ministry of Statistics. This reflects a steady momentum in industrial activity. Over the period of April to January for the fiscal year 2023-24, the overall industrial growth stands at 5.9 percent, a slight improvement compared to the 5.5 percent growth recorded during the same period in the previous fiscal year.
The industrial growth rate for January remains consistent with the provisional figures reported for December 2023. However, upon further analysis, the December figures have been revised upwards to 4.2 percent, indicating a stronger performance than initially estimated.
Within the industrial sector, manufacturing output, which constitutes a significant portion of the Index of Industrial Production (IIP), saw a growth of 3.2 percent in January. Furthermore, electricity generation exhibited robust growth, expanding by 5.6 percent compared to the provisional figure of 1.2 percent in December.
The mining sector also showed positive growth, with output increasing by 5.1 percent during the review period. This collective performance across various industrial segments signifies a broad-based improvement in India's industrial landscape.
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