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India's Index of Industrial Production (IIP) increased by 5.7% in February, up from 3.8% in January, according to data from the Ministry of Statistics and Programme Implementation (MoSPI). December 2023 saw a 4.2% IIP growth. Power generation rose by 7.5% year-on-year (YoY) in February, compared to 6.9% in January. Mining production grew by 8%, and power output increased by 7.5% in February.
In April-November 2023, India's industry - as measured by the Index of Industrial Production - grew by 6.4 percent as against 5.6 percent in the first eight months of 2022-23.
This week, domestic investors will be eyeing key events such as the start of Q3FY24 earning season, IIP, and CPI data, along with core inflation, and initial jobless claims in the US that will keep the markets buzzing.
While the year-on-year IIP growth figures for October 2023 are very strong for all sectors, the same can’t be said for month-on-month growth
India Business News: India's industrial production in October reached a 16-month high of 11.7%, marking a significant improvement from last year's contraction. The manufac