India's industrial production contracts 0.1% in August

India's industrial production contracted 0.1 per cent in August, mainly due to poor showing by the mining and power generation sectors, according to official data released on Friday. The factory output, measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 10.9 per cent in August 2023. The three major components of IIP, including mining, manufacturing and electricity, witnessed a contraction of 4.2 per cent, growth of 1 per cent and contraction of 3.7 per cent, respectively.