India's Industrial Production Declines Marginally, Manufacturing Output Rises

16 Oct 2024

India's Index of Industrial Production (IIP) experienced a slight decrease of 0.1% in August, following a growth of 4.7% in July, with manufacturing output increasing by 1%, according to data from the statistics ministry.

In August, the leading contributors to the manufacturing sector included basic metals, which grew by 3.0%, electrical equipment with a significant increase of 17.7%, and chemicals and their products, which rose by 2.7%.

The mining sector's growth rate has dropped by 4.3%. The slowdown in the mining sector's growth is probably a result of the heavy rains experienced in August 2024, the ministry stated. The preliminary estimate of the IIP was 145.6, compared to 145.8 in August of the last year.

In August, the indices of industrial production were as follows: 107.1 for the mining sector, 145.9 for manufacturing, and 212.3 for electricity. For the various categories of goods, the indices were 141.6 for primary goods, 108.1 for capital goods, 162.2 for intermediate goods, and 180.2 for infrastructure/construction goods. Additionally, the indices for consumer durables and consumer non-durables were recorded at 129.6 and 141.6, respectively.