India's Industrial Production Grows To 5% In First Month Of FY25

Index of Industrial Production (IIP) registered a growth of 5% in April of FY25, compared to a 4.6% rate in the same month a year ago. The country's factory output inched up from 4.9% in the previous month as well.

As per the Ministry of Statistics & Programme Implementation data, in April 2024, the Quick Estimates of IIP with base 2011-12 stood at 147.7 against 140.7 in April 2023.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for April 2024 stand at 130.8, 144.2 and 212.0 respectively.

In terms of growth rate, the three sectors, Mining, Manufacturing and Electricity for April 2024 over April 2023 witnessed growth of 6.7 per cent, 3.9 per cent and 10.2 per cent respectively.

Within the manufacturing sector, the growth rate of the top three positive contributors to the growth of IIP for April 2024 is - "Manufacture of basic metals" (8.1%), "Manufacture of coke and refined petroleum products" (4.9%), and "Manufacture of motor vehicles, trailers and semi-trailers" (11.4%), it said.

Meanwhile, as per Use-based classification, the indices stand at 152.2 for Primary Goods, 95.3 for Capital Goods, 156.9 for Intermediate Goods and 183.3 for Infrastructure/ Construction Goods for April 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 118.7 and 151.0 respectively for April 2024.

Notably, The corresponding growth rates of IIP as per Use-based classification in April 2024 over April 2023 are 7.0 per cent in Primary goods, 3.1 per cent in Capital goods, 3.2 per cent in Intermediate goods, 8.0 per cent in Infrastructure/ Construction Goods, 9.8 per cent in Consumer durables and -2.4 per cent in Consumer non-durables (Statement III). Based on the use-based classification, the top three positive contributors to the growth of IIP for April 2024 are - Primary goods, Infrastructure/Construction goods and Consumer durables.

The Quick Estimates for April 2024, the first revision for March 2024 and the final revision for January 2024 have been compiled at weighted response rates of 92 per cent, 96 per cent and 96 per cent respectively, the ministry said.

As per Trading Economics data, IIP in India increased by 5 per cent in April of 2024 over the same month in the previous year. Industrial Production in India averaged 6.03 per cent from 1994 until 2024, reaching an all-time high of 133.50 per cent in April of 2021 and a record low of -57.30 per cent in April 2020.

The IIP data for May 2024 will be released on July 12, 2024.