India’s industrial production, measured by the Index of Industrial Production (IIP), rose by 5.2% in November 2024, according to data released by the Ministry of Statistics & Programme Implementation (MoSPI) on January 10. This marks a six-month high and a significant improvement compared to the 2.5% growth recorded in November 2023
Key Sectoral Performance:
- Manufacturing Sector: Output surged 5.8% in November 2024, a sharp rise from 1.3% in the same month last year and 4.4% in October 2024.
- Mining Sector: Production grew by 1.9%, compared to 0.9% in October 2024.
- Electricity Output: Rose by 4.4%, up from the 2% increase recorded in the prior month.
Use-Based Category Performance:
- Primary Goods: Posted a growth of 2.7%, marginally higher than the 2.5% in October 2024.
- Capital Goods: Growth surged to 9%, up from 3.1% in the previous month, indicating a robust uptick in investment-linked production.
- Infrastructure Goods: Recorded a 10% increase, compared to 4.8% in October.
- Consumer Durables: Output rose sharply by 13.1%, compared to 5.7% in the prior month, reflecting strong demand.
- Consumer Non-Durables: Posted a subdued growth of 0.6%, down from 2.6% in October 2024.
This strong performance in industrial production highlights the recovery momentum in India’s manufacturing and infrastructure sectors, supported by increased demand for capital goods and consumer durables. The data provides a positive signal for the broader economic landscape, indicating resilience amid global economic uncertainties.
