New Delhi: India’s industrial production, measured by the Index of Industrial Production is likely to surge to 3.7 per cent year-on-year in January 2025. A report by Union Bank of India revealed this. The Index of Industrial Production was at 3.2 per cent in December 2024.
However, the report also highlights that despite this monthly increase, the IIP growth in January is likely to be lower compared to 4.2 per cent recorded in January 2024, indicating a year-on-year decline. It said ‘Industrial production growth, as indicated by IIP, likely inch-up to 3.7 pc YoY in Jan’25, from 3.2 pc in previous month and 4.2 pc in Jan’24, due to improvement in overall industrial activities’.
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Although India’s merchandise exports contracted by 2.4 per cent on a year-on-year basis in January, merchandise imports grew by 10.3 per cent. E-way bill generation, which reflects the movement of goods across states, rose significantly by 23.1 per cent in January compared to the same period last year.
India’s automobile sector witnessed a recovery in January, reversing the contraction seen in the previous two months. Wholesale automobile sales grew by 2.5 per cent year-on-year, supported by a rebound in the two-wheeler segment. Tractor sales recorded double-digit growth for the second consecutive month, while vehicle registrations also expanded during the month. Petroleum consumption, another indicator of industrial and economic activity, increased by 3.1 per cent in January compared to the same month last year.
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