India's Industrial Production Surges by 5.7% in July

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India's official data for July reveals a 5.7 percent increase in industrial production. The Quick Estimates of the Index of Industrial Production (IIP) for July 2023, based on the 2011-12 scale, registers at 142.0. In July 2023, the sector-wise IIP figures are 111.9 for Mining, 141.2 for Manufacturing, and 204.0 for Electricity. It's important to note that these Quick Estimates will undergo revisions in subsequent releases, following the IIP revision policy.

Breaking it down by use-based classification, the indices for July 2023 are as follows: 141.7 for Primary Goods, 101.6 for Capital Goods, 151.8 for Intermediate Goods, and 168.5 for Infrastructure/Construction Goods. Additionally, the indices for Consumer Durables and Consumer Non-Durables are 118.1 and 152.2, respectively, for the same period.

Detailed Quick Estimates of the Index of Industrial Production for July 2023, categorized by sectoral and 2-digit National Industrial Classification (NIC-2008), as well as by use-based classification, can be found in Statements I, II, and III. For a comprehensive understanding of industrial sector changes, Statement IV presents month-wise indices for the past 12 months, organized by industry groups (according to the 2-digit NIC-2008) and sectors.

In addition to the Quick Estimates for July 2023, it's worth noting that the indices for June 2023 have undergone their first revision, and those for April 2023 have undergone final revision, incorporating updated data from source agencies. These estimates have been compiled with weighted response rates of 92 percent, 94 percent, and 95 percent for July 2023, June 2023 (first revision), and April 2023 (final revision), respectively.

The Quick Estimates of the Index of Industrial Production (IIP) are typically released on the 12th of each month, with a six-week delay, and are compiled using data received from source agencies, which, in turn, collect data from manufacturing facilities and establishments.