India's industrial growth edged up to a six-month high of 5.2% in November, compared to 3.7% in the previous month. November marks the third consecutive month of rise in industrial output of India. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of November 2024 are 1.9 percent, 5.8 percent and 4.4 percent respectively. The Quick Estimates of IIP stands at 148.4 against 141.1 in November 2023.
The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2024 stand at 133.8, 147.4 and 184.1 respectively. Within the manufacturing sector, 18 out of 23 industry groups at NIC 2 digit-level have recorded a positive growth in November 2024 over November 2023. The top three positive contributors for the month of November 2024 are - "Manufacture of basic metals" (7.6%), "Manufacture of electrical equipment" (37.2%) and "Manufacture of other non-metallic mineral products" (12.0%).
In the industry group "Manufacture of basic metals", item groups "Galvanized products of Steel (including colour coated tin plates, TMBP and Tin free steel)", "Pipes and tubes of Steel", "Flat products of Alloy Steel" have shown significant contribution in growth. In the industry group "Manufacture of electrical equipment", item groups "Electric heaters", "Transformers (Small)", "End facing connector for optical fibres and cables" have shown significant contribution in growth. In the industry group "Manufacture of other non-metallic mineral products" item groups "Pre-fabricated Concrete blocks (including RMC)", "Cement- all types", "Fibre glass" have shown significant contribution in growth.
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