IIP Data: Industrial production at 5-month high, IIP growth in July at 5.7 percent

IIP Data: The pace of India’s industrial production has seen a rise in the month of July. According to the Industrial Production Index, the growth rate has increased to 5.7 percent in July. If compared to the previous year, the rate of industrial production in July 2022 was 2.2 percent. On the other hand, if seen on month-to-month basis, IIP in June was 3.8 percent (revised). 

IIP growth at 5-month high

According to the data released by the National Statistical Office (NSO), it is revealed that the IIP rate of 5.7 percent in July is the highest level in the last 5 months. A post has also been made on X regarding the growth of different sectors.

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IIP declined in the first four months of FY 2023-24

India’s industrial production rate in the first 4 months of 2023-24 has come down to 4.8 percent on an annual basis. This IIP growth rate was 10.0 percent in April-July 2022. Last year its rate was so high due to its beneficial base effect. 

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