IIP growth at 11.9% inspiring: PHD Chamber

No. PR- 127
October 12, 2021
New Delhi
    IIP growth at 11.9% inspiring: PHD Chamber
Rejuvenating industrial activity and recovery in the various economic and business indicators have supported the double digit growth in IIP in the recent months, said Mr Pradeep Multani, President, PHD Chamber of Commerce and Industry, in a press statement issued here today.
The IIP growth at 11.9% in August 2021 is remarkable as compared to (-)7.1% in August 2020 and (-)1.4% in August 2019, said Mr Pradeep Multani.
The growth of IIP at 11.9% in August 2021 is supported by the growth of mining at 23.6%, capital goods at 20%, primary goods at 17%, electricity at 16%, infrastructure/construction goods at 11%, intermediate goods at 10.3%, manufacturing at 9.7%, consumer durables at 8%, and consumer non-durables at 5.2%, said Mr Pradeep Multani.
At this juncture, there is a need to address the high commodity prices and shortages of raw material to support the consumption and private investments in the country, said Mr Pradeep Multani.
Going ahead, the drivers of household consumption need to be further strengthened to support the demand for consumer goods and to enhance the aggregate demand in the country, as it will have an accelerated effect on expansion of capital investments in the country, said Mr Pradeep Multani.
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Media Division
PHD Chamber of Commerce and Industry