New Delhi: The Index of Industrial Production (IIP) experienced a growth of 3.2 percent in December, a decrease from the 5.2 percent recorded in the previous month, according to preliminary estimates released by the statistics ministry on Wednesday.
For December 2024, the growth rates across the three sectors—mining, manufacturing, and electricity—were reported at 2.6 percent, 3.0 percent, and 6.2 percent, respectively.
The IIP quick estimates indicate a figure of 157.2, up from 152.3 in December 2023. The indices for the mining, manufacturing, and electricity sectors for December 2024 are 143.1, 156.2, and 192.8, respectively.
Within the manufacturing sector, 16 out of 23 industry groups at the NIC 2-digit level showed positive growth in December 2024 compared to December 2023.
The leading contributors to growth in December 2024 were the "Manufacture of basic metals" (6.7 percent), "Manufacture of electrical equipment" (40.1 percent), and "Manufacture of coke and refined petroleum products" (3.9 percent).
In the "Manufacture of basic metals" category, significant growth was noted in item groups such as "MS blooms/billets/ingots/pencil ingots," "Galvanized products of steel (including color-coated tin plates, TMBP, and tin-free steel)," and "Pipes and tubes of steel."
Similarly, in the "Manufacture of coke and refined petroleum products" category, notable contributions to growth came from item groups including "Diesel," "Aviation Turbine Fuel (ATF)," and "Naphtha."
According to the usage-based classification, the indices for December 2024 are as follows: 157.7 for Primary Goods, 114.5 for Capital Goods, 169.3 for Intermediate Goods, and 191.7 for Infrastructure/Construction Goods. Additionally, the indices for Consumer Durables and Consumer Non-Durables are recorded at 124.0 and 166.0, respectively.
The index for January 2025 is scheduled to be released on Wednesday, March 12, 2025.
