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This comes after IIP had contracted by 1.9 per cent in November. It had expanded in October and September after six straight months of contraction due to Covid-19. Analysts had then termed this a temporary blip.
India IIP contracts 1.9% in November 2020 versus 3.6% expansion in October The previous high recorded was in February 2020, when IIP rose 5.2 percent, while it plunged to 0.48 to percent in September 2020 following the dry months after the COVID-19 lockdown. The IIP for November last year grew 2.1 percent. Representative Image The Index of Industrial Production (IIP) contracted 1.9 percent for November 2020, showed the data released by the Ministry of Statistics and Programme Implementation (MoSPI) on January 12. The factory output in the country had grown at 3.6 per cent in October. The prev...
The manufacturing sector, which has a weightage of 77.6 percent in the IIP, recorded a growth of 3.5 percent in October.