IIP: April-August Industrial Growth Worst in Last 10 Years (Download PDF)

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According to the report released by Index of Industrial Production (IIP) the first five months of the current fiscal year, recorded lowest Industrial growth in least 10 years from 2007-08. It is believed that Indian industries are suffering due to a global recession. Government reforms like GST, Banking reform and lowering of interest rates might come to rescue.

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Created with Highcharts 5.0.0YearsGrowth in (%)Industrial Growth in India according to IIP8.64.35.38.22.92.8-0.12.8-0.27-0.27Growth in (%)2007-082008-092009-102010-112011-122012-132013-142014-152015-162016-17-2.502.557.5102010-11Growth in (%): 8.2

During April-August 2016 industrial growth was -0.27% which is the lowest since 2007-08 even worse than during April-August 2009 (immediately after the Lehman crisis). This  indicates a deepening gloom in the industrial sector.

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Created with Highcharts 5.0.0IIP Fields of IndiaGrowth in (%)Industrial Growth in various fields of India according by IIP-1.18-21.46-2.86.314.497.247.5-0.042.054.781.94-12.8-0.09-11.240.686.84-0.05-14.425.131.58-0.05-14.425.131.58-0.090.68-11.246.842.054.78-12.81.944.497.247.5-0.04-1.18-21.466.31-2.82012-132013-142014-152015-162016-17By economic activityManufacturingBy economic activity ManufacturingBy usage CapitalgoodsBy usage Capital goodsConsumer durablesConsumer non-durablesConsumer non-durables-30-20-10010By economic activity Manufacturing2013-14: -0.09
  • IIP data is based on different sectors for last five years.
  • Assembling segment lost 1.18% in less than five years.
  • Constriction in capital products was far more serious.
  • Non-durables sector is worsening continuously for last five years.
  • Durables sector is the main highlight (especially the mechanical area), however even here growth in initial five months of the current financial year is lower than last year.

About Index of Industrial Production(IIP)

  • India’s industrial index developer, which track growth across various sectors like mining, electricity and manufacturing.
  • Composite indicator measuring industrial output based on the short-term changes in the volume of production during a given period.
  • IIP industrial growth report is compiled monthly by the Central Statistical Organisation (CSO).

About Central Statistical Organisation

  • The Central Statistics Organisation (CSO) coordinates statistical activities in India
  • Responsible for developing and maintaining statistical standards.
  • Has well-equipped Graphical Unit.
  • Headquartered in Delhi.
  • Also responsible for the Industrial Statistics work relating to Annual Survey of industries executed in Calcutta.

- Published/Last Modified on: October 12, 2016

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