India's Industrial Output Grows 5 % In April; Strong Activity In Mining, Power Sectors
The Index of Industrial Production for March showed robust growth, expanding by 5.7 per cent compared to 3.8 per cent in January 2024
India's Index of Industrial Production (IIP) for April stood at 5 per cent, up from 4.6 per cent for the same period a year ago, according to data released by the Ministry of Statistics and Programme Implementation.
The IIP for April 2024 stood at 147.7 compared to 140.7 in the same month last year. Sector-wise, the indices for mining, manufacturing, and electricity were 130.8, 144.2, and 212.0 respectively, with growth rates of 6.7 per cent, 3.9 per cent, and 10.2 per cent.
"Within the manufacturing sector, the growth rate of the top three positive contributors to the growth of IIP for the month of April 2024 are - 'Manufacture of basic metals' (8.1 per cent), 'Manufacture of coke and refined petroleum products' (4.9 per cent), and 'Manufacture of motor vehicles, trailers and semi-trailers' (11.4 per cent), an official release said.
The data highlights that the manufacturing, mining and power sectors recorded growth with contributions from various segments including metals, pharmaceuticals and other transport equipment.
The indices for use-based categories showed significant growth in primary goods (7.0 per cent), infrastructure/construction goods (8.0 per cent) and consumer durables (9.8 per cent).
The Index of Industrial Production for March showed robust growth, expanding by 5.7 per cent compared to 3.8 per cent in January 2024.
Overall, the moderation in retail inflation, particularly in food prices, coupled with strong industrial growth, paints a favourable picture of the economy's resilience amidst ongoing global uncertainties.
