India’s industrial production, as measured by the Index of Industrial Production (IIP), saw an increase of 5.2% in November 2024, according to data released by the Ministry of Statistics and Program Implementation (MoSPI). . This represents a significant improvement over the previous month’s growth rate of 3.5%. The three key sectors – Mining, Manufacturing and Electricity – also experienced growth rates of 1.9%, 5.8% and 4.4% respectively during the same period.

Key aspects:

The growth rate of the index of industrial production (IIP) for November 2024 is 5.2 percent, up from 3.5 percent (flash estimate) in October 2024.

i. In November 2024, the growth rates of the mining, manufacturing and electricity sectors were 1.9 percent, 5.8 percent and 4.4 percent, respectively.

ii. The flash estimate of the IPI is 148.4, compared to 141.1 in November 2023. Industrial production indices for the mining, manufacturing and electricity sectors in November 2024 are 133, 8, 147.4 and 184.1, respectively.

iii. Within the manufacturing sector, 18 of the 23 industrial groups at the NIC 2-digit level have shown positive growth in November 2024 compared to November 2023. The top three contributors in November 2024 are “Manufacturing of base metals” (7, 6%) “, Manufacture of electrical equipment” (37.2%), and “Manufacture of other non-metallic mineral products” (12.0%).