Contraction in India's industrial activity eased by nearly 6%
Sep 11, 2020, 18:51 IST
A sequential rebound in industrial activity eased the contraction rate of India's factory output in July, official data showed on Friday.
However, Covid-19 pandemic continued to heavily dent India's factory output on a year-on-year basis.
As per the Quick Estimates of Index of Industrial Production (IIP), the contraction in factory output eased to (-) 10.4 per cent in July from (-) 16 per cent reported for June.
However, on a YoY basis, the comparison became more stark, as the IIP had registered a growth of 4.9 per cent in the corresponding period of last year.
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However, Covid-19 pandemic continued to heavily dent India's factory output on a year-on-year basis.
As per the Quick Estimates of Index of Industrial Production (IIP), the contraction in factory output eased to (-) 10.4 per cent in July from (-) 16 per cent reported for June.
However, on a YoY basis, the comparison became more stark, as the IIP had registered a growth of 4.9 per cent in the corresponding period of last year.
SEE ALSO:
The fate of five IIITs will be up for debate during the Monsoon Parliament Session 2020
India and Japan sign 10-year military pact to counter China in the Indo-Pacific — strengthening the QUAD
Rajanth Singh, Bipin Rawat, Ajit Doval and three Army Service Chiefs to discuss India-China border issue today
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