India's industrial output grows by 7.1% in January 2018

India's industrial output grew by 7.5 percent in January, 2018 as compared to the level in the same month of the previous year, an official statement said here today.
The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for January 2018, released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation, said the General Index for the month of January, 2018 stood at 132.3.
This is the third consecutive month in which factory output has clocked a high single-digit growth and some analysts saw in it an early sign of industrial revival post demonetisation and GST roll-out.
The cumulative growth for the period April-January 2017-18 over the corresponding period of the previous year stood at 4.1%, it said.
According to the statement, the Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for January, 2018 stood at  114.5, 133.8 and 149.5, respectively, with the corresponding growth rates of 0.1%, 8.7% and 7.6% as compared to January 2017.
The cumulative growth in these three sectors during April-January 2017-18 over the corresponding period of 2016-17 was 2.5%, 4.3% and  5.3%, respectively.
The statement said 16 of the 23 industry groups in the manufacturing sector showed positive growth during January, 2018 as compared to the corresponding month of the previous year.
The industry group ‘Manufacture of other transport equipment’ showed the highest positive growth of 33.1%, followed by 27.8% in ‘Manufacture of furniture’ and 26.6% in ‘Manufacture of  motor vehicles, trailers and semi-trailers’. On the other hand, the industry group ‘Manufacture of tobacco products’ showed the highest negative growth of (-) 46.5%, followed by (-) 32.4% in ‘Other manufacturing’ and (-) 13.2% in ‘Printing and reproduction of recorded media’.
The statement said the growth rates in January, 2018 over January, 2017 were 5.8% in Primary goods, 14.6% in Capital goods, 4.9% in Intermediate goods and 6.8% in Infrastructure/ Construction Goods.  Consumer durables and Consumer non-durables recorded growth of 8.0% and 10.5%, respectively.
Important item groups which  showed high growth during January, 2018 over the same month in the previous year include ‘Bodies of trucks, lorries and trailers’ (267.5%), ‘Steroids and hormonal preparations (including anti-fungal preparations)’ (102.9%), ‘Stainless steel utensils’ (89.2%),‘Axle’ (58.8%), ‘Separators including decanter centrifuge’ (49.7%), ‘Sugar’ (40.9%), ‘Two-wheelers (motorcycles/ scooters)’ (37.7%), ‘Digestive enzymes and antacids (incl. PPI drugs)’ (31.7%), ‘Commercial Vehicles’ (29.8%), ‘Films of polythene, polyester, PVC & other forms of plastic’ (22.0%)  and ‘Cement- all types’ (21.5%).
Item groups that registered high negative growth include ‘Jewellery of gold (studded with stones or not)’ [(-) 73.8%], ‘Other tobacco products’ [(-) 73.4%], ‘Hand Tools incl. interchangeable tools, not mechanised’ [(-) 64.7%], ‘Bags/ pouches of HDPE/ LDPE (plastic)’ [(-) 40.7%], ‘Kerosene’ [(-) 37.3%], ‘Material handling, lifting and hoisting equipment’ [(-) 34.3%], ‘Plastic components of packing/ closing/ bottling articles & of electrical fittings’ [(-) 29.1%],  ‘Paper of all kinds excluding newsprint’ [(-) 28.8%], ‘Medical/ surgical accessories’ [(-) 27.1%] and ‘Printed Books (incl. Manuals, reports, brochures, catalogs, etc.)’ [(-) 21.1%].
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