NEW DELHI: The country’s industrial production soared to a 12-month high in May on the back of a statistical base effect and strong performance in manufacturing and electricity sectors, triggering hopes of a robust rebound in the crucial sector.
Data released by the National Statistical Office (NSO) on Tuesday showed the index of industrial production (IIP) rose an annual 19.6% in May, sharply higher than the downwardly revised 6.7% in April and lower than the 27.6% in May 2021. Growth in the April-May period was at 12.9% compared with an expansion of 67.3% in the year earlier period.
