India’s industrial production grew at 6.4% rate in August | business | Hindustan Times
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India’s industrial production grew at 6.4% rate in August

Industrial production grew at a nearly three-year high of 6.4% in August on account of improvement in manufacturing as well as mining activity and a better offtake of capital goods.

business Updated: Oct 12, 2015 19:04 IST
India’s industrial production grew at a three-year high rate of 6.4% in August.
India’s industrial production grew at a three-year high rate of 6.4% in August.(Reuters Photo)

Industrial production grew at a nearly three-year high of 6.4% in August on account of improvement in manufacturing as well as mining activity and a better offtake of capital goods.

The factory output had grown by 0.5% in August last year.

Industrial output, measured in terms of the Index of Industrial Production (IIP), was at 4.1% in the April-August period against 3% in the year-ago period, the data released by the Central Statistics Office (CSO) today showed.

The index grew at 8.4% in October, 2012. After that, it has touched the highest level of 6.4% in August.

The IIP growth for July has been revised slightlydownwards to 4.1% from provisional estimate of 4.2% last month.

The manufacturing sector, which constitutes over 75% of the index, grew by 6.9% in August, 2015 against a contraction of 1.1% in the same month last year.

During April-August period, manufacturing sector grew at 4.6% as compared to 2% growth in same period a year ago.

The mining sector growth was at 3.8% in August against 1.2% in the same month last fiscal. During April-August period, the sector grew at 1.2%.

The output of capital goods, a barometer of investment, grew at an impressive rate of 21.8% as against a contraction of 10% in the same month last year.

During April-August, the capital goods output grew by 7.4% as compared to 4.8% in the year-ago period.

However, power generation growth slowed to 5.6% in August as compared to 12.9% in the same month a year ago.

During April-August period, it grew by by 3.2% as compared to 11.7% in same period a year ago.

In terms of industries, 15 out of 22 groups in the manufacturing sector showed positive growth in August.