Indian Industrial output rises by 6.8 percent

(posted under - Industrial output, Economy of india) - Industrial output as measured by the index of industrial production (IIP) clocked an annual growth rate of 6.8% in July, making it the second consecutive month of buoyant industrial growth after a weak show that started last October, data released by the Central Statistical Organisation on Friday showed. The provisional IIP figure of 7.8% for June was revised upwards to 8.2%.

Analysts pointed out that a key reason behind the robust performance by the mining sector is Reliance’s KG basin facilities coming on stream during the first quarter of the current financial year. Within the manufacturing segment, the 8.8% growth in consumer goods, the highest in eight month, suggested that the domestic consumption story remains strong in India.