India’s industrial output growth hits 6-month high of 5.2% in November: Govt data

India’s industrial production grew 5.2% year-on-year in November 2024, accelerating from 3.5% in October, according to government data released on Friday. The Index of Industrial Production (IIP) stood at 148.4 in November, up from 141.1 a year ago.

The factory output growth for November reached a six-month high after May recorded 6.3% growth. It grew by 4.9% in June and 5% in July 2024.

The IIP growth was flat in August before picking up at 3.1% in September and 3.7% in October 2024.

Manufacturing spearheaded the growth, posting a 5.8% rise, while electricity and mining sectors grew by 4.4% and 1.9%, respectively.

Eighteen of the 23 manufacturing industry groups recorded positive growth, with electrical equipment (37.2%), other non-metallic mineral products (12.0%), and basic metals (7.6%) being the top performers.

On a use-based classification, the infrastructure and construction goods category saw the highest growth at 10%, followed by capital goods (9%) and consumer durables (13.1%). Primary goods and intermediate goods rose 2.7% and 5%, respectively, while consumer non-durables edged up by 0.6%.

The indices for November 2024 stood at 147.7 for primary goods, 106.8 for capital goods, 158.8 for intermediate goods, and 180.6 for infrastructure/construction goods.

In the April-November period, the IIP grew 4.1%, down from 6.5% in the year-ago period.

The IIP data for December 2024 will be released on February 12, 2025.