 "IIP growth hits 6-month high of 5.2% in November on manufacturing boost")
India's industrial output, measured by the Index of Industrial Production (IIP), reached a six-month high of 5.2 per cent in November 2024, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday. The factory output during the same month in 2023 saw a growth of 2.5 per cent.
This also marks a significant improvement from the 3.5 per cent growth recorded in October 2024, indicating a positive trend in the country's industrial activities.
In May 2024, IIP growth rose to 5.9 per cent, before dropping to 4.2 per cent in June.
In the April-November period, the IIP registered a growth of 4.1 per cent, a decline from 6.5 per cent in the same period last year.
Manufacturing sector drives growth
The growth was driven by a strong performance in the manufacturing sector which saw notable increase of 5.8 per cent, up from 4.1 per cent in October. Within the sector, 18 out of 23 industry groups in the National Industrial Classification, recorded a positive growth in November 2024 compared to November 2023. Top three contributors included basic metals, electrical equipment, and non-metallic mineral products, respectively.
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The electricity sector also showed healthy growth, rising by 4.4 per cent in November 2024, up from 2 per cent the previous month. Meanwhile, the mining sector, while still positive, posted a more modest growth rate of 1.9 per cent, up from 0.9 per cent.
Release of the December 2024's IIP will be on Wednesday, February 12, 2025, the ministry said.