New Delhi: India’s industrial production rose to 3.1 per cent in September 2024. The Index of Industrial Production (IIP) in India witnessed a contraction of 0.1 per cent in August. Data released by the Ministry of Statistics and Programme Implementation showed this.
Among the three major components of IIP, manufacturing output climbed 3.9 per cent in September, while electricity generation grew 0.5 per cent and mining activity increased 0.2 per cent. The corresponding growth rates of IIP as per Use-based classification in September 2024 over September 2023 stood at 1.8 per cent in Primary goods, 2.8 per cent in Capital goods, 4.2 per cent in Intermediate goods, 3.3 per cent in Infrastructure or Construction Goods, 6.5 per cent in Consumer durables and two per cent in Consumer non-durable.
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In April-September this fiscal, the IIP grew 4 per cent against 6.2 per cent in the year-ago period.
The Index of Industrial Production is an index that details out the growth of various sectors in the economy. The Eight Core Industries comprise more than 40% of the weight of items included in IIP. These Eight Core Industries are Electricity, steel, refinery products, crude oil, coal, cement, natural gas, and fertilizers.
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