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Anand Rathi Report
India’s Index of Industrial Production (IIP) growth at -8% in August 2020 registered the sixth successive contraction since March 2020. Despite generalised contractions, there are clear signs of a turnaround in the Indian industry.
In August 2020, almost all broad categories registered improvements in performance versus the previous month. Staples is the only exception.
Earlier stockpiling and pent-up demand in the early phase of opening up led to worsening in growth for staples.
All the G-20 countries with the exception of China recorded contraction in industrial production in the latest reading.
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