India's Industrial Upsurge: September's Turnaround in Manufacturing

India's industrial production rose by 3.1% in September, propelled by manufacturing growth, according to the latest data. This comes after a contraction in August. The September rise is part of a broader trend, as the Index of Industrial Production increased by 4% during April-September 2024.

India's industrial landscape witnessed a revival as the latest data revealed a 3.1% growth in industrial production for September. The surge is largely attributed to improvements in the manufacturing sector, according to figures released by the National Statistics Office.

The Index of Industrial Production (IIP), a crucial indicator of industrial activity, recorded a significant growth rate of 6.4% for September 2023. However, the sector had previously dipped into negative territory with a contraction of 0.1% in August 2024.

Breaking down the sectors, manufacturing showed a robust growth of 3.9%, while mining and electricity grew at 0.2% and 0.5% respectively. Over the first half of the fiscal year, the IIP saw an overall growth of 4%, a decrease from the 6.2% growth experienced in the prior year.

(With inputs from agencies.)