India Manufacturing Production Financial Year to Date y/y

Manufacturing Production FYTD y/y shows the change in the value of goods produced in the manufacturing sector of the Indian industry in the period from the beginning of the fiscal year (April 1) to the report date, compared to the same period a year ago. Manufacturing production volumes are calculated using the GVA (Gross Value Added) at basic current prices.

Manufacturing is one of the target areas of the Indian economy. The government launched the "Make In India" initiative to increase output and the share of manufacturing in the national GDP. Main production activities in manufacturing include automobile production, pharmaceuticals and chemical production, food production, electronics, textile production, etc.

The calculation takes into account the inflation by applying a deflator based on the Producer Price Index. This index is used because it measures the actual prices of manufactured goods at the output level. This allows measuring the net turnover of manufacturers excluding retail margins. It is one of the short-term indicators of the national economy development. It is used in the calculation of India's GDP. Manufacturing production growth serves as a leading indicator of consumer activity and retail sales growth. In addition, this industry is an important source of employment. Therefore, the index growth may have a positive effect on the Indian rupee quotes.