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<keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>'s <keyword id="35052" type="General" weightage="20" keywordseo="Industrial-production" source="Orion">industrial production</keyword> rose 3.2 per cent in October, according to official data released on Friday. As per the <keyword id="124816" type="General" weightage="20" keywordseo="Index-of-Industrial-Production" source="Orion">Index of Industrial Production</keyword> (IIP) data by the <keyword id="7734679" type="General" weightage="20" keywordseo="national-statistical-office" source="Orion">National Statistical Office</keyword> (NSO), the manufacturing sector's output grew 2 per cent in October 2021. In October, the mining output climbed 11.4 per cent, and power generation increased 3.1 per cent. The IIP had grown by 4.5 per cent in October 2020. During April-October this year, the IIP grew 20 per cent against a 17.3 per cent contraction in the same period last year. Industrial production has been hit due to the <keyword id="1754604" type="General" weightage="20" keywordseo="coronavirus" source="Orion">coronavirus</keyword> pandemic since March last year when it had contracted 18.7 per cent. It shrank 57.3 per cent in April 2020 due to a decline in economic activities in the wake of the lockdown imposed to curb the spread of coronavirus infections. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/indias-first-uncrewed-space-mission-scheduled-for-launch-in-2022-chandrayaan-3-moon-mission-in-advanced-stages-of-realisation/articleshow/88208205.cms">India's first uncrewed space mission scheduled for launch in 2022; Chandrayaan-3 moon mission in advanced stages of realisation</a>

India's industrial production grows 3.2% in October

<keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>'s industrial production rose by 13.6 per cent in June, official data released on Thursday showed. According to the Index of Industrial Production (<keyword id="6427912" type="UNKNOWN" weightage="20" keywordseo="iip">IIP</keyword>) data released by the <keyword id="7734679" type="UNKNOWN" weightage="20" keywordseo="National-Statistical-Office">National Statistical Office</keyword> (<keyword id="2501810" type="ORGANIZATION" weightage="20" keywordseo="NSO">NSO</keyword>), the manufacturing sector's output surged by 13 per cent in June 2021. The mining output climbed 23.1 per cent and power generation increased by 8.3 per cent in June. The IIP had contracted 16.6 per cent in June 2020. During April-June this year, the IIP grew by 45 per cent against a contraction of 35.6 per cent in the same quarter last year. Industrial production has been hit due to the coronavirus pandemic since March last year when it had contracted 18.7 per cent. It shrank 57.3 per cent in April 2020 due to a decline in economic activities in the wake of the lockdown to curb the spread of coronavirus infections. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/vip-industries-wakes-up-from-a-long-slumber-to-reach-an-18-month-high/articleshow/85269746.cms">VIP Industries wakes up from a long slumber to reach an 18-month high</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/simple-energy-launching-one-electric-scooter-on-august-15-check-out-booking-price-battery-specification/articleshow/85268668.cms">Simple One electric scooter pre-bookings begin August 15 – check out the booking price, battery specs and more</a>

India's manufacturing sector grows by 13% in June, according to NSO data

<keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>'s industrial production rose 2.4 per cent in July, according to the official data released on Monday. The IIP had grown 11.5 per cent in July 2021. As per the Index of Industrial Production (IIP) data released by the <keyword id="7734679" type="General" weightage="80" keywordseo="national-statistical-office" source="Orion">National Statistical Office</keyword> (<keyword id="2501810" type="General" weightage="80" keywordseo="nso" source="Orion">NSO</keyword>), the manufacturing sector's output grew 3.2 per cent in July 2022. The mining output contracted 3.3 per cent while power generation increased 2.3 per cent during the same period. In April 2020, industrial production had contracted 57.3 per cent due to a decline in economic activities in the wake of the lockdown imposed to curb the spread of coronavirus infections. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/melbourne-university-madras-university-sign-mou-for-research-and-teaching-programmes/articleshow/94156218.cms">Melbourne University, Madras University sign MoU for research and teaching programmes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/cheetah-reintroduction-all-but-one-village-in-kuno-national-park-resettled-say-officials/articleshow/94155743.cms">Cheetah reintroduction: All but one village in Kuno national park resettled, say officials</a>

Industrial production grows 2.4 pc in July

Mumbai, The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> paused its two days of gains and settled 6 paise lower at 83.24 (provisional) against the US <keyword id="35208" type="General" weightage="20" keywordseo="dollar" source="Orion">dollar</keyword> on Thursday as rising crude oil prices dented the investor sentiment. Forex analysts said early gains in the domestic currency on the back of the weak dollar were reversed by the subdued domestic equity markets and concerns over foreign funds withdrawal. At the interbank foreign exchange, the rupee opened at 83.17 and then traded between the intra-day peak of 83.12 and the lowest level of 83.25 against the greenback. The local unit finally settled at 83.24 (provisional), registering a loss of 6 paise from its previous close. The rupee had settled 7 paise higher on Wednesday, a day after gaining 3 paise against the American currency. Market participants were also awaiting the industrial production data for August and inflation numbers for September to be released later in the day, which will provide insights into the country's economic health. Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said the rupee is expected to trade with a slight positive bias on expectations of a decline in India's inflation and a rise in risk appetite in global markets. "Traders may remain cautious ahead of India's CPI and <keyword id="132840" type="General" weightage="20" keywordseo="iip-data" source="Orion">IIP data</keyword>. Traders may also take cues from US CPI, weekly unemployment claims and Federal Budget balance data. USD-INR spot price is expected to trade in a range of Rs 82.70 to Rs 83.60," Choudhary added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.09 per cent lower at 105.72. Brent crude futures, the global oil benchmark, witnessed a sharp rise of 1.20 per cent to USD 86.85 per barrel. On the domestic equity market front, the BSE Sensex closed 64.66 points or 0.10 per cent lower at 66,408.39. The broader NSE Nifty declined 17.35 points or 0.09 per cent to 19,794. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 421.77 crore, as per exchange data.

Rupee falls 6 paise against US dollar amid rising crude prices

New Delhi, India's industrial production growth perked up slightly to 5.2 per cent in January from 4.7 per cent in December 2022, mainly due to good performance of the power, mining and manufacturing sectors, according to official data released on Friday. There was an improvement on an annual as well as sequential basis. The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at two per cent in January 2022. As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector's output grew 3.7 per cent in January 2023 from 1.9 per cent a year ago. <keyword id="864464" type="General" weightage="20" keywordseo="mining-output" source="Orion">Mining output</keyword> rose 8.8 per cent during the month under review compared to 3 per cent in January 2022. Power generation also surged 12.7 per cent in January 2023 against 0.9 per cent in the year-ago month. As per use-based classification, the capital goods segment recorded a growth of 11 per cent in January against a growth of 1.8 per cent in the corresponding month of the last fiscal. Consumer durables output declined by 7.5 per cent compared to a contraction of 4.4 per cent a year ago. Consumer non-durable goods output expanded by 6.2 per cent against a growth of 3.1 per cent earlier. Infrastructure/construction goods too posted a growth of 8.1 per cent compared to a 5.9 per cent expansion in the same month of 2022. The data also showed that the output of primary goods logged 9.6 per cent growth in the month against 1.6 per cent in the year-ago period. The intermediate goods output growth decelerated to 0.1 per cent from 2.5 per cent earlier. For the first 10 months of the current fiscal (April-January), the growth in IIP works out to be 5.4 per cent, down from 13.7 per cent in the year-ago period.

IIP growth perks up slightly to 5.2% in January from 4.7% in December

<div class="KonaFilter image-container float_right"><div class="image on-image">REUTERS/Jason Lee/files</div></div>China's growing external debt has once again set off alarm bells.
The State Administration of Foreign Exchange (SAFE) said the country had $823 billion of external debt at the end of Q3 - about 9% of GDP. 
Some have argued that this is evidence of desperation, and that China is now borrowing money from foreigners, having maxed out on domestic credit. 
Pointing to China's international investment position (IIP) data, Standard Chartered's Stephen Green writes that this measure is the most "comprehensive measure of the total liabilities that China Inc. owes the world," and that "China's liabilities are dominated by foreign direct investment (FDI), the best kind of liability." The IIP data puts all of China's liabilities to the world at $3.8 trillion as of September 2013, or about 43% of GDP. This number is much bigger than SAFE's for a few key reasons. 1. SAFE doesn't include liabilities denominated in foreign currencies but not those in offshore yuan. 2. It excludes FDI.
But a breakdown of IIP data shows that the largest part of this debt is driven by FDI which amounted to $2.3 trillion at the end of 2013. Portfolio investment totaled $347 billion. The remaining $1.1 trillion is driven by trade credit, loans from foreign creditors, and deposits of foreign firms in China.
"There has been no significant increase in China's liabilities with the rest of the world - and when FDI is excluded, the absolute number is small and flat," writes Green. "No impending cataclysm here." 
<div class="KonaFilter image-container"><div class="image">Standard Chartered</div></div>
Total foreign debt as a percent of GDP shows "no sign of a substantial ramp-up in borrowing from offshore."
<div class="KonaFilter image-container"><div class="image">Standard Chartered</div></div>
China's foreign bank loans to China amount to 10% of GDP, one of the lowest among emerging markets.
<div class="KonaFilter image-container"><div class="image">Standard Chartered</div></div> The one thing to watch is the pace at which the stock of cross-border loans is growing, currently up 50% year-over-year.
But the recent debt expansion "has been the normalization of what was an abnormal situation: a massive economy shutting itself off from offshore funding sources," writes Green.
Foreign borrowing of 10-14% of GDP is perfectly normal for the world's second largest economy and one that plans to become an international investor, according to Green.

These Three Charts Show Why Everyone Should Stop Freaking Out About Chinese Foreign Debt

Industrial growth contracted for a second month in December while retail <keyword id="22195" type="COMPANY" weightage="100" keywordseo="Inflation">inflation</keyword> spurted to a 17-month high in January, capturing the dilemma facing <keyword id="6355261" type="POSITION" weightage="100" keywordseo="Finance-minister">Finance Minister</keyword> <keyword id="42575" type="PERSON" weightage="100" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> ahead of the Budget. 
 Any attempt to raise government spending to spur growth could force a delay in further <keyword id="37018" type="UNKNOWN" weightage="100" keywordseo="interest-rate">interest rate</keyword> cuts by the Reserve Bank of India because of rising prices. 
 
The Index of Industrial Production (IIP) fell 1.3 per cent in December after a revised 3.4 per cent decline in November, according to data released by the statistics office on Friday. The November fall had been previously pegged at 3.2 per cent. The slump was partly because of floods in Chennai, a major manufacturing hub. 
 
The separately released consumer price index (CPI) showed retail inflation at 5.69 per cent in January, the highest since August 2014, making for a toxic mix of macro numbers at the start of the new calendar. 
 "As both high-frequency data show deterioration, deterioration, the macroeconomic management of the economy by the government as well as RBI is going to be more difficult ahead, particularly when the <keyword id="6360189" type="COMPANY" weightage="100" keywordseo="Union-Budget">Union Budget</keyword> is due by the end of this month," said Sunil Kumar Sinha, principal economist at India Ratings, a Fitch Ratings associate. 
 The data also highlighted the disconnect between <keyword id="35050" type="CITY" weightage="100" keywordseo="gdp">GDP</keyword> numbers and high-speed indicators such as industrial production and car sales. 
 
Car sales fell 0.72 per cent in January, the first decline 15 months. GDP data released on Monday had showed a growth of 7.3 per cent for the December quarter and an outstanding 12.6 per cent growth in manufacturing. But manufacturing contracted 2.4 per cent in December, according to IIP data. 
 
Manufacturing accounts for 75.5 per cent weight in IIP. "The marginal 0.9 per cent volume growth in the manufacturing sector in Q3FY16 stood in sharp contrast to the growth of value addition revealed by the GDP data (12.6 per cent at constant prices and 10.9 per cent at current prices), which benefitted from lower input costs," said Aditi Nayar, senior economist, ICRA. 
 
The spike in inflation is largely because of food inflation which accelerated to 6.85 per cent in January from 6.4 per cent in the previous month, making a rate cut difficult when RBI reviews monetary policy on April 5. Any relaxation of fiscal targets by the government in the Budget would all but rule out a rate cut. Some policymakers favour a relaxation in the fiscal consolidation target of 3.5 per cent for FY15 to create room for more government spending while meeting pay commission obligations. "Presuming a normal monsoon in 2016 and fiscal consolidation along the previously announced trajectory, ICRA expects CPI inflation to average 5.5 per cent in FY17, allowing for a final 25-basis-points cut in the repo rate during 2016," said Nayar. 
 
Image credit: Indiatimes

Budget 2016: High inflation and slow industrial growth present obstacles to FM Arun Jaitley

<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword>, <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s industrial production grew 3.8 per cent in January 2024, according to official data released on Tuesday. <keyword id="6428111" type="General" weightage="20" keywordseo="Factory-output" source="Orion">Factory output</keyword> measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 5.8 per cent in January 2023. "India's Index of Industrial Production grows by 3.8 per cent in January 2024," an official statement said. The data released by the <keyword id="20070866" type="General" weightage="20" keywordseo="national-statistical-office" source="keywords">National Statistical Office</keyword> (<keyword id="20067517" type="General" weightage="20" keywordseo="nso" source="keywords">NSO</keyword>) showed that the manufacturing sector's output grew 3.2 per cent in January 2024, down from 4.5 per cent in the year-ago month. In January this year, mining production rose 5.9 per cent, and power output increased 5.6 per cent. The IIP grew 5.9 per cent during April 2023 to January 2024 compared to a 5.5 per cent expansion in the year-ago period.

India's industrial production grows 3.8% in January

Belying expectations of a slowdown due to demonetization, industrial production in November grew by 5.7 percent compared to a contraction of 3.4 percent in the same month a year ago. 
 
Factory output measured in terms of Index of Industrial Production (IIP) got a push in November 2016 due to better performance of manufacturing, mining and electricity sectors coupled with the larger offtake of capital goods, considered a barometer of investment. 
 
Following demonetization of Rs 1,000 and Rs 500 notes announced on November 8, 2016, it was feared that cash crunch will hit all sectors. 
 
According to data released by the Central Statistics Office today, IIP for the month of October last year was revised slightly upwards to a contraction of 1.8 per cent from provisional estimates of (-) 1.9 per cent released last month. 
 
As per the data, IIP growth during April-November period this fiscal remained almost flat at 0.4 per cent compared to 3.8 per from provisional estimates of (-) 1.9 per cent released last month. 
 
As per the data, IIP growth during April-November period this fiscal remained almost flat at 0.4 percent compared to 3.8 percent a year ago. 
 
The manufacturing sector, which constitutes over 75 percent of the index, grew by 5.5 percent in November compared to a decline in output by 4.6 per cent earlier. 
 
 However, during the April-November period, the sector recorded a contraction of 0.3 percent compared to a growth of 3.9 per cent. 
 
Similarly, electricity generation grew at 8.9 per cent in November compared to a meager 0.7 percent a year ago. Mining output grew 3.9 per cent in November compared to 1.7 per cent same month a year ago. 
 
Capital goods production increased by 15 percent in November compared to a decline in production by 24.4 per cent earlier. 
 
As per use-based classification, growth rates in November 2016 over November 2015 are 4.7 per cent in basic goods and 2.7 percent in intermediate goods. 
 
Consumer durables and consumer non-durables recorded growth of 9.8 per cent and 2.9 per cent respectively, with the overall growth in consumer goods being 5.6 per cent. 
 
In terms of industries, 16 out of 22 industry groups in the manufacturing sector have shown growth during the month of November 2016 as compared to the corresponding month of last year.

India’s manufacturing grows 5.5% in November despite the note ban

New Delhi, Feb 12 () The country's industrial output contracted by 0.3 per cent in December, weighed by a decline in the manufacturing sector, government data showed on Wednesday. The Index of Industrial Production (IIP) had grown by 2.5 per cent in December 2018. According to the National Statistical Office (NSO) data, manufacturing sector output declined by 1.2 per cent compared to growth of 2.9 per cent in the same month a year ago. Electricity generation also dipped 0.1 per cent as against a growth of 4.5 per cent in December 2018. Mining sector output grew by 5.4 per cent, compared to a contraction of 1 per cent earlier. The IIP growth during April-December period of the current fiscal decelerated to 0.5 per cent from 4.7 per cent expansion in the same period of 2018-19. KKS CS ABM

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India's industrial production grows 3.2% in October

PTI

India's manufacturing sector grows by 13% in June, according to NSO data

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Industrial production grows 2.4 pc in July

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Rupee falls 6 paise against US dollar amid rising crude prices

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IIP growth perks up slightly to 5.2% in January from 4.7% in December

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These Three Charts Show Why Everyone Should Stop Freaking Out About Chinese Foreign Debt

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Budget 2016: High inflation and slow industrial growth present obstacles to FM Arun Jaitley

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India's industrial production grows 3.8% in January

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India’s manufacturing grows 5.5% in November despite the note ban

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Industrial production shrinks 0.3 pc in Dec

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