India's June Industrial Output Jumps 7.3% as Capital Goods Growth Hits 14.2%
Updated
Updated · The Economic Times · Jul 28
India's June Industrial Output Jumps 7.3% as Capital Goods Growth Hits 14.2%
3 articles · Updated · The Economic Times · Jul 28
Summary
India’s industrial output rose 7.3% in June, with the IIP quick estimate at 123.1 versus 114.7 a year earlier.
Manufacturing and electricity drove the gain, with 19 of 23 manufacturing industry groups expanding and food products such as tea, non-basmati rice and starch among key contributors.
Capital goods output led use-based growth at 14.2%, pointing to sustained investment activity; intermediate goods rose 9.3% and infrastructure and construction goods 7.5%.
MoSPI also overhauled the index methodology, adopting Output PPI instead of WPI as the deflator for the 2022-23 base series.
The switch covers 234 of 463 item groups—36.02% of index weight—and the ministry said it should better capture real output in line with international practice.