India's industrial growth slows to 6.7% in September
What's the story
India's Index of Industrial Production (IIP) for September has grown at a rate of 6.7%, down from August's 8%. The data was released by the Ministry of Statistics and Programme Implementation. The decline in growth rate indicates a slowdown in industrial activity during the month, with key sectors such as manufacturing, electricity, and gas supply contributing positively to this growth.
Sector performance
Manufacturing sector drives growth
The manufacturing sector recorded a growth of 7.6% in September. Major contributors to this growth were the manufacture of motor vehicles, trailers and semi-trailers, electrical equipment, rubber and plastics products.
The manufacture of motor vehicles grew by 19%, while that of electrical equipment surged by an impressive 33.9%.
The production of rubber and plastics products also contributed significantly with a growth rate of 19.9%.
Sector analysis
Other sectors' performance
Apart from manufacturing, other sectors also contributed to the overall industrial growth.
The electricity and gas supply segment grew by 11.2%, while the water supply, sewerage & waste management sector saw a growth of 5.8%.
However, it wasn't all positive as mining and quarrying contracted by 6.2% during this period.