Industrial production growth rises to 5.2% in November from 3.5% in October: government data

India’s industrial production, as measured by the Index of Industrial Production (IIP), saw a 5.2% increase in November 2024, data released by the Ministry of Statistics and Program Implementation (MoSPI) said. This represents a significant improvement from the previous month’s growth rate of 3.5%. The three main sectors – mining, manufacturing and electricity – also witnessed growth rates of 1.9%, 5.8% and 4.4%, respectively, during the same period.

Highlights:

The growth rate of the Index of Industrial Production (IIP) for November 2024 is 5.2 percent, up from 3.5 percent (quick estimate) in October 2024.

I. In November 2024, growth rates in the mining, manufacturing, and electricity sectors reached 1.9%, 5.8%, and 4.4%, respectively.

secondly. The IIP quick estimate is 148.4, compared to 141.1 in November 2023. The industrial production indices for the mining, manufacturing and electricity sectors in November 2024 are 133.8, 147.4 and 184.1, respectively.

Third. Within the manufacturing sector, 18 out of 23 industry groups at the double-digit NIC level showed positive growth in November 2024 compared to November 2023. The three largest contributors in November 2024 are “Basic Metals Industry” (7.6%), “Electrical Equipment Industry” (7.6%) 37.2%), and “Manufacture of other non-metallic mineral products” (12.0%).