India’s industrial output, as measured by the Index of Industrial Manufacturing (IIP), skilled a 5.2% improve in November 2024, knowledge launched by the Ministry of Statistics and Programme Implementation (MoSPI) said. This marks a big enchancment from the earlier month’s development fee of three.5%. The three key sectors – Mining, Manufacturing, and Electrical energy – additionally noticed development charges of 1.9%, 5.8%, and 4.4% respectively throughout the identical interval.
Key Highlights:
The Index of Industrial Manufacturing (IIP) development fee for November 2024 is 5.2 p.c, up from 3.5 p.c (Fast Estimate) in October 2024.
i. In November 2024, the expansion charges for the Mining, Manufacturing, and Electrical energy sectors have been 1.9 p.c, 5.8 p.c, and 4.4 p.c, respectively.
ii. The Fast Estimate of IIP is 148.4, in comparison with 141.1 in November 2023. The Industrial Manufacturing Indices for the Mining, Manufacturing, and Electrical energy sectors in November 2024 are 133.8, 147.4, and 184.1, respectively.
iii. Inside the manufacturing sector, 18 out of 23 business teams on the NIC 2-digit degree have proven optimistic development in November 2024 in comparison with November 2023. The highest three contributors in November 2024 are “Manufacture of fundamental metals” (7.6%), “Manufacture {of electrical} gear” (37.2%), and “Manufacture of different non-metallic mineral merchandise” (12.0%).
