IIP data: India's industrial production growth declines to three-month low of 5% in April; check details

India's index of industrial production (IIP), which measures the output of key economic sectors such as manufacturing, mining and power, rose by 5% in April 2024 on an annual basis, as per the data shared by the Ministry of Statistics and Programme Implementation on June 12.

The IIP growth rate was the lowest in the last three months. The index had surged by 5.4% in March, and by 5.7% in February.

The production rate, however, was higher as compared to the growth of 4.3% recorded in April 2023.

Key sectoral performances

The IIP in the mining sector climbed by 6.7%, followed by 10.2% in electricity and 3.9% in manufacturing. However, manufacturing holds the maximum weightage in the index.

Within the manufacturing sector, here are the key segment-wise performances:

The manufacturing of motor vehicles, trailers and semi-trailers jumped 11.5%, whereas, the manufacturing of transport equipment increased by 13.9%.

The production of food products increased by a modest 1.5%, whereas, it rose by 5.1% in the beverages segment.

The output of computer, electronic and optical products plunged 11.5%, whereas, the production of furniture products slipped 6.4%.

The manufacturing of wearing apparel declined by 14.1%, and for tobacco products it dropped by 8.3%.

The output of pharmaceuticals, plastic products and basic metals increased 8%, 4.5%, and 11.6%, respectively.

Infra goods output surges

As per use-based classification, the output of infrastructure or construction goods grew at 8%, according to the statistics ministry data.

This was followed by a 7% growth in the output of primary goods, 3.2% rise in intermediate goods and 3.1% in capital goods.

The sharpest IIP growth was recorded in the consumer durables segment, whose output jumped 9.8%. On the other hand, the output shrunk by 2.4% in the consumer non-durables segment.