Industry Production Growth Falls To 3.7% In June

New Delhi: The index of industrial production (IIP) in India fell to 3.7 percent in June from the three-month high of 5.2 percent in May 2023 mainly due to poor rise in manufacturing output, which rose by 3 percent compared to 5.8 percent in May, as per government data.

According to data released by the Ministry of Statistics and Programme Implementation on Friday, in April, the IIP stood at 4.2 percent. India's IIP had declined to its lowest level in five months at 1.1 percent in March. However, the figure has been revised to 1.7 percent. (Also Read: Bengaluru's Rockstar Rapido Driver: Meet The Rider Whose 'Royal Enfield Hunter' Is Making Waves In India's Silicon Valley)

The previous lowest growth rate was observed in October 2022 when it contracted by 4.1 percent. (Also Read: A South Indian Who Worked As A Utensils Cleaner Left Home With Only Rs 200 In Hand Is Now The Owner Of A Million-Dollar Firm, Earning In Crores)

For the first quarter of 2023-24, IIP growth stood at 4.5 percent, down from 12.9 percent in April-June 2022 when the data was boosted by a favourable base effect.