INDIA'S IIP RECORDS A GROWTH OF 4.8% IN THE JULY 2024

The Quick Estimates of the Index of Industrial Production (IIP) for July 2024 reveal a growth rate of 4.8%, slightly up from 4.7% in June 2024. The sectoral growth rates for July are 3.7% for Mining, 4.6% for manufacturing, and a robust 7.9% for electricity. The overall IIP stands at 149.6, an increase from 142.7 in July 2023, with sector indices at 116.0 for Mining, 148.6 for manufacturing, and 220.2 for electricity.

In the manufacturing sector, notable contributors include the Manufacture of electrical equipment- 28.3%, Manufacture of coke and refined petroleum products- 6.9%, and Manufacture of basic metals- 6.4%. Use-based classification shows indices of 150.1 for Primary Goods, 114.4 for Capital Goods, 164.3 for Intermediate Goods, and 178.7 for Infrastructure/Construction Goods. Growth rates in these categories are 5.9%, 12.0%, 6.8%, and 4.9%, respectively, with Consumer durables growing by 8.2%. In comparison, Consumer non-durables saw a decline of 4.4%.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.