India's Index of Industrial Production records 3.2% growth in December

New Delhi [India], February 12 (ANI): The Index of Industrial Production (IIP) grew 3.2 per cent in December which was 5.2 per cent the month prior, quick estimates released by the statistics ministry showed Wednesday.

The growth rates of the three sectors, mining, manufacturing and electricity for December 2024 were 2.6 per cent, 3.0 per cent and 6.2 per cent, respectively.

The quick estimates of IIP stands at 157.2 against 152.3 in December 2023. The Indices of Industrial Production for the mining, manufacturing and electricity sectors for December 2024 stand at 143.1, 156.2 and 192.8 respectively.

Within the manufacturing sector, 16 out of 23 industry groups at NIC 2 digit-level have recorded a positive growth in December 2024 over December 2023.

The top three positive contributors for December 2024 are - "Manufacture of basic metals" (6.7 per cent), "Manufacture of electrical equipment" (40.1 per cent) and "Manufacture of coke and refined petroleum products" (3.9 per cent).

In the industry group "Manufacture of basic metals", item groups "MS blooms/ billets/ ingots/ pencil ingots ", "Galvanized products of Steel (including colour coated tin plates, TMBP and Tin free steel)", "Pipes and tubes of Steel", have shown significant contribution in growth.

In the industry group "Manufacture of coke and refined petroleum products" item groups "Diesel", "Aviation Turbine Fuel (ATF)", "Naphtha" have shown significant contribution in growth.

As per the use base classification, the indices stand at 157.7 for Primary Goods, 114.5 for Capital Goods, 169.3 for Intermediate Goods and 191.7 for Infrastructure/ Construction Goods for December 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 124.0 and 166.0 respectively.

The release of the index for January 2025 will be on Wednesday, March 12, 2025. (ANI)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)