India’s IIP Growth Hits 4.8% in July 2024: Sectoral Highlights and Key Data

Team Finance Saathi

13/Sep/2024

What's covered under the Article:

India’s IIP growth rate rose to 4.8% in July 2024, up from 4.7% in June 2024.

Electricity sector showed robust growth at 7.9%, while mining and manufacturing grew by 3.7% and 4.6%, respectively.

Consumer non-durables declined by 4.4%, contrasting with an 8.2% growth in consumer durables.

The Quick Estimates of the Index of Industrial Production (IIP) for July 2024 reveal a growth rate of 4.8%, marking a slight increase from the 4.7% recorded in June 2024. This growth reflects a positive trend across various industrial sectors, showcasing resilience and expansion in key areas.

The overall IIP for July 2024 stands at 149.6, up from 142.7 in July 2023. This indicates a significant improvement in industrial output year-over-year. The sectoral indices for July are as follows:

Mining: 116.0, reflecting a growth rate of 3.7%.

Manufacturing: 148.6, with a growth rate of 4.6%.

Electricity: 220.2, showcasing a robust growth rate of 7.9%.

In the manufacturing sector, key contributors include:

Manufacture of Electrical Equipment: 28.3%.

Manufacture of Coke and Refined Petroleum Products: 6.9%.

Manufacture of Basic Metals: 6.4%.

The use-based classification of IIP shows varied growth rates across different categories:

Primary Goods: Index at 150.1, with a growth rate of 5.9%.

Capital Goods: Index at 114.4, demonstrating a strong growth rate of 12.0%.

Intermediate Goods: Index at 164.3, growing at 6.8%.

Infrastructure/Construction Goods: Index at 178.7, with a growth rate of 4.9%.

Consumer Durables: Showing an impressive growth rate of 8.2%.

Consumer Non-Durables: Experiencing a decline of 4.4%.

The data underscores a strong performance in the electricity sector and robust growth in manufacturing, while the capital goods sector has particularly excelled, reflecting increased industrial activity and investment in infrastructure.

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India’s IIP Growth Hits 4.8% in July 2024: Sectoral Highlights and Key Data

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