Industrial production grows 3.1% in September on waning low base effect

India's industrial production rose 3.1 percent in September, mainly due to the waning low base effect, the official data showed.

The industrial production, according to the CNBC-TV18 poll, was expected to be at 4.21 percent.

As per the Index of Industrial Production (IIP) data by the National Statistical Office (NSO), the manufacturing sector's output surged 2.7 percent in September 2021.

Meanwhile, the mining output climbed 8.6 percent, and power generation increased 0.9 percent.

Consumer durables manufacturing contracted two percent in the month under review against a growth of 5.3 per cent in September 2020. Consumer non-durable goods production contracted 0.5 percent in September over a 2.4 cent growth in the year-ago period.

During April-September this year, the IIP grew 23.5 percent against a 20.8 percent contraction in the same period last year. Industrial production has been hit due to the coronavirus pandemic since March last year when it had contracted 18.7 percent.

It shrank 57.3 percent in April 2020 due to a decline in economic activities in the wake of the lockdown imposed to curb the spread of coronavirus infections.

The government had imposed a nationwide lockdown to contain the spread of coronavirus infections on March 25, 2020.