Manufacturing in dire straits: Output up just 1.1% compared with 2019-20

Electricity output has grown around 11%; consumer durables and non-durables have contracted 6.7% and 2.4%, respectively

Manufacturing is in much more pain than what was revealed by the year-on-year (YoY) growth in the Index of Industrial Production (IIP) data. While it grew 3.2 per cent in July YoY, the expansion was just 1.1 per cent, when compared with the same month in the pre-Covid year of 2019-20.

The picture was different for the other two major segments of the IIP — mining and electricity. Though mining output contracted 3.3 per cent YoY in July, it has grown about 1 per cent compared with 2019-20. Electricity generation rose 2.3 per cent in July YoY, but it has