SME Times is powered by   
Search News
Just in:   • ED raids multiple locations in Kolkata for lottery scam  • GenAI a top priority for 70 pc Global Capability Centres in India: Report  • South Korea's fiscal deficit further widens this year  • Electronic toll collection in India soars to record Rs 6,115 crore in Oct  • India’s tech and durables sector sees 13 pc value growth in festive season 
Last updated: 13 Nov, 2024  

industrial India's industrial production rises 3.1 pc in September

industrial
   Top Stories
» India’s tech and durables sector sees 13 pc value growth in festive season
» Apple iPhone exports from India hit record Rs 60,000 crore in April-Oct
» India's smartphone market to exit 2024 with single-digit annual growth
» Digital transfers of funds for public services up 56 pc in 2024: RBI Deputy Guv
» Sensex slips below 78,000, investors lose over Rs 6 lakh crore
IANS | 12 Nov, 2024

India’s Index of Industrial Production (IIP) bounced back with an expansion of 3.1 per cent in September as against a contraction of 0.1 per cent in August, according to data released by the Ministry of Statistics on Tuesday. 

The manufacturing output, which accounts for more than three-fourths of the index of industrial production (IIP), recorded a growth of 3.9 per cent year-on-year in September. The sector plays a key role in providing quality jobs to the young graduates passing out from the country’s engineering institutes and universities.

"Within the manufacturing sector, the top three positive contributors for the month of September 2024 are – 'Manufacture of coke and refined petroleum products' (5.3 per cent), 'Manufacture of basic metals' (2.5 per cent), and 'Manufacture of electrical equipment' (18.7 per cent)," an official statement said.

Electricity generation grew 0.5 per cent during the month and mining activity increased by 0.2 per cent, the data showed.

For the April-September period, the growth in industrial production 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 that the production of capital goods which comprise machines used in factories went up by 2.8 per cent. This segment reflects the real investment taking place in the economy which has a multiplier effect on the creation of jobs and incomes going ahead.

There was also a 6.5 per cent increase in the production of consumer durables such as electronic goods, refrigerators, and TVs during September reflecting the higher consumer demand for these items amid rising incomes. The output of consumer non-durables such as soaps and cosmetics went up by a modest 2.0 per cent during the month. The output of intermediate goods went up by 4.2 per cent during the month while there was an increase of 3.3 per cent in Infrastructure/ Construction Goods during September compared to the same month of the previous year, the figures further showed.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Will the new MSME credit assessment model simplify financing?
 Yes
 No
 Can't say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter