IIP: India’s Index of Industrial Production up 3.1 percent in September 2024

New Delhi| India’s Index of Industrial Production (IIP) grew by 3.1 percent in September 2024. According to the Ministry of Statistics and Programme Implementation, it experienced a significant improvement over the previous month. There was a slight decline of -0.1 per cent in the IIP in August. The overall index rose to 146.7 compared to 142.3 in September 2023, reflecting strong performance in several key industries, with the manufacturing sector leading these.

Three key sectors-mining, manufacturing and power-held separate demonstrations in September. Mining showed a modest growth of 0.2 per cent, while the manufacturing sector experienced a strong growth of 3.9 per cent.

“Manufacturing of coke and refined petroleum products” accounted for most of the growth of the manufacturing sector, which grew by 5.3 per cent. “Manufacturing of basic metals” increased by 2.5 per cent; and “manufacturing of electrical equipment” showed an impressive growth of 18.7 per cent.

According to the report related to IIP growth, primary goods recorded a growth rate of 1.8 percent, while capital goods showed a growth of 2.8 percent. Intermediate goods increased by 4.2 per cent, which contributed significantly to overall IIP growth. Infrastructure and construction goods grew by 3.3 per cent, and consumer durables showed the highest growth among all categories, at 6.5 per cent.