Industrialists Gautam Adani, Mukesh Ambani and Anand Mahindra attend the UP Investors’ Summit 2018 at Indira Gandhi Pratishthan in Lucknow. PTI file photo
Uttar Pradesh's industrial output grew 3.2 per cent year on year in June, surging past India’s industrial growth index of 2 per cent during the same month.
The state’s industrial production uptick was largely aided by robust growth in the power and mining sectors.
The state's electricity, mining and manufacturing sectors expanded by 8.7 per cent, 4 per cent and 2.5 per cent, respectively this June, over the same month last year, according to the Quick Estimates of Index of Industrial Production on base year 2011-12 released by the Economics and Statistical Division of the State Planning Institute, UP.
Interestingly, India’s industrial output growth had slipped to a 4-month low of 2 per cent this June due to subdued performance in mining and manufacturing. Factory output, measured by the Index of Industrial Production (IIP), had expanded by 7 per cent in June 2018, even as the previous low in federal IIP index was recorded in February 2019, when it hit 0.2 per cent.
‘Quick Estimates’ are prepared as per the methodology of Central Statistical Office, Government of India, using data provided by various factories and departmental head offices.
The state’s industrial output index, based on 23 different industry groups, was prepared in August and has now been announced.
In UP, the General Industrial Production Index for June 2019 stood at 120.9, which was 3.2 per cent higher as compared to June 2018. Similarly, the indices of Industrial Production for power, mining and manufacturing sectors stood at 149.1 per cent, 117.9 per cent and 118.8 per cent respectively.
Of the 23 industry groups taken up for analysing the state industrial growth index, 13 manufacturing sectors had positive growth in June, juxtaposed with the corresponding month last financial year.
The industry group ‘manufacture of electrical equipment’ returned the highest positive growth of 45.6 per cent, followed by 42.9 per cent in ‘manufacture of pharmaceuticals, medicinal plants and botanical products’.
Meanwhile, the industry group ‘manufacture of wearing apparel’ posted the highest negative growth of (-) 38.2 per cent, followed by (-) 26.5 per cent in ‘manufacture of motor vehicles, trailers and semi trailers’.
Meanwhile, the indices are also prepared on basis of ‘use based’ classification, namely, index of primary goods, capital goods, intermediate goods, infrastructure/construction goods, consumer durable goods and consumer non-durable goods.
In June 2019, the growth stood at 6 per cent in primary goods, (-) 5.6 per cent in capital goods, 15.7 per cent in intermediate goods and (-) 6.2 per cent in infrastructure/construction goods. The consumer durable and consumer non-durable recorded growth of (-) 5.3 per cent and (-) 1.2 per cent respectively.