Improvement in manufacturing sector has led to a 1pc growth in December 2020’s Index of Industrial Production (IIP), thus entering the positive zone after being in the negative in the prior month, according to official data.
Broad indices growth rate in December 2020, including mining index, was down 4.8pc, manufacturing index rose 1.6pc and electricity jumped 5.1pc from 2019. Resumption of activities in the economy has pushed IIP in the positive territory. October IIP rose 4.2pc while November IIP declined 2.1pc from the prior year months.
The index for mining slipped by 4.8pc in December against the previous year and was down 11.3pc in April-December 2020 from same period in 2019. Manufacturing index in April-December slipped 15.1pc, electricity index was down 3.6pc while general IIP index was down 13.5pc.
Manufacture of motor vehicles, trailers and semi-trailers was up 5.4pc in December 2020 from 2019 with strong demand for vehicles continuing in December. Basic metals manufacturing was up by 4.2pc in December from 2019. IIP in December turned green driven by basic metals, petrochemical products, pharmaceuticals and overall growth of the manufacturing sector.