New Delhi: India’s industrial output growth slowed four-month low in December 2024. India’s Index of Industrial Production stood at 3.2 per cent in December 2024. This was mainly due to poor performance of mining and manufacturing sectors.
The government has also revised the November 2024 IIP figure to 5 per cent from the provisional estimate of 5.2 per cent released in the previous month. The factory output, measured in terms of the Index of Industrial Production (IIP), witnessed a growth of 4.4 per cent in December 2023.
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The data released by the National Statistical Office (NSO) showed that the manufacturing sector’s output grew 3 per cent in December 2024, down from 4.6 per cent in the year-ago month. Mining production growth declined to 2.6 per cent from 5.2 per cent year-on-year. Power output increased to 6.2 per cent in December 2024 from 1.2 per cent a year ago.
In the April-December period, the IIP grew 4 per cent, down from 6.2 per cent recorded in the year-ago period.
IIP 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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