india-s-industrial-production-grows-3-5pc-in-october

India's industrial output, measured by the Index of Industrial Production (IIP), rose 3.5 percent in October 2024, up from 3.1 percent the previous month, official data released on December 12 showed.

 

Manufacturing output rose 4.1% year-on-year in October, electricity generation grew 2%, and mining activity was up 0.9%, the data showed. The sectors had grown by 10.6%, 20.4%, and 13.1%, respectively, from a year ago. In the April-October period, industrial output increased by 4%, compared to a revised 7% from a year earlier.

 

On a year-on-year basis, however, October IIP was a significant climbdown from the same month a year ago when it hit 11.9%.

 

India's industrial output, measured by the Index of Industrial Production (IIP), rose 3.5 percent in October 2024, up from 3.1 percent the previous month, official data released on December 12 showed. Manufacturing output rose 4.1% year-on-year in October, electricity generation grew 2%, and mining activity was up 0.9%, the data showed.

 

The sectors had grown by 10.6%, 20.4%, and 13.1%, respectively, from a year ago. In the April-October period, industrial output increased by 4%, compared to a revised 7% from a year earlier. On a year-on-year basis, however, October IIP was a significant climbdown from the same month a year ago when it hit 11.9%.

 

In the manufacture of basic metals, item groups "Pipes and tubes of steel," "Galvanised products of steel (including colour-coated tin plates, TMBP, and tin-free steel)," and "Bars and rods of mild steel" added significantly to growth. Electrical equipment and petroleum product manufacturing saw growth, driven by specific items. Electric heaters, small transformers, and optical fibre connectors boosted the electrical equipment sector.

 

Petrol, aviation fuel, and liquefied petroleum gas contributed significantly to the growth in refined petroleum products. The IIP data for October showed varying performance across different sectors. Infrastructure/construction goods had an index value of 183.0, followed by intermediate goods at 163.4, primary goods at 149.9, and capital goods at 109.4. Consumer durables reached 130.2, and consumer non-durables stood at 146.3.