India's industrial production contracts 4% in October

India's industrial production contracted by 4% on an annual basis, data released by the Ministry Of Statistics And Programme Implementation (MOSPI) showed Monday. The Index of Industrial Production (IIP) had grown 4.2% in October 2021 and by 3.1% in September 2022.

IIP contracted to 129.6 in October from 133.5 in September. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

The manufacturing sector saw a contraction of 5.6% while mining and electricity grew 2.5% and 1.2% each in October 2022.


Among the IIP (use-based), capital goods, intermediate goods, consumer durables and consumer non-durables contracted by 2.3%, 2.8%, 15.3% and 13.4% each in October while primary goods and infrastructure/construction goods grew 2% and 1% each.

Overall industrial production so far this fiscal, i.e., April-October 2022 has been 5.3% whereas growth of 20.5% was seen in the corresponding period of the previous year.

The Quick Estimates of Index of Industrial Production (IIP) are released on 12th of every month (or previous working day if 12th is a holiday) with a six-week lag and compiled with data received from source agencies, which in turn receive the data from the producing factories/ establishments, according to the MoSPI statement.