New Delhi: India’s Index of industrial production (IIP) growth rate for the month of February 2025 slowed down to 2.9 per cent month-on-month. This is the lowest rate in six months. It was at 5 per cent in the month of January 2025.
Mining sector growth slowed to 1.6% in February 2025, as against 8.1% in the same month of the previous year. The manufacturing sector grew at a pace of 2.9%, as against 4.9% in the year ago period. Electricity production dipped to 3.6% this February, from 7.6% a year ago.
Within the manufacturing sector, 14 out of 23 industry groups at NIC 2 digit-level have recorded a positive growth in February 2025 over February 2024. The top three positive contributors for the month of February 2025 are – “Manufacture of basic metals” (5.8%), “Manufacture of motor vehicles, trailers and semi-trailers” (8.9%) and “Manufacture of other non-metallic mineral products” (8.0%).
In the industry group “Manufacture of basic metals”, item groups “Flat products of Alloy Steel “, “Pipes and tubes of Steel”, “Bars and Rods of Mild steel” have shown significant contribution in growth.
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In the industry group “Manufacture of motor vehicles, trailers and semi-trailers”, item groups “Auto components/ spares and accessories”, “Axle”, “Commercial Vehicles, have shown significant contribution in growth.In the industry group “Manufacture of other non-metallic mineral products” item groups “Cement- all types”, “Cement Clinkers”, “Pre-fabricated Concrete blocks (including RMC)” have shown significant contribution in growth.
As per the use base classification, the indices stand at 152.3 for Primary Goods, 115.5 for Capital Goods, 159.9 for Intermediate Goods and 191.3 for Infrastructure/ Construction Goods for the month of February 2025. Further, the indices for Consumer durables and Consumer non-durables stand at 126.5 and 146.7 respectively.
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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