India’s Index of Industrial Production recorded growth of 5.2% in November 2024

QUICK ESTIMATE OF INDEX OF INDUSTRIAL PRODUCTION AND USE-BASED INDEX FOR THE MONTH OF NOVEMBER 2024 (BASE 2011-12=100)

10 JAN 2025

The Quick Estimates of Index of Industrial Production (IIP) are released on 12^th of every month (or previous working day if 12^th is a holiday) with a six weeks lag and compiled with data received from source agencies, which in turn receive the data from the producing factories/ establishments. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

2.        Key Highlights:

1.  The IIP growth rate for the month of November 2024 is 5.2 percent which was 3.5 percent (Quick Estimate) in the month of October 2024.
2.  The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of November 2024 are 1.9 percent, 5.8 percent and 4.4 percent respectively.
3.  The Quick Estimates of IIP stands at 148.4 against 141.1 in November 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2024 stand at 133.8, 147.4 and 184.1 respectively.
4. Within the manufacturing sector, 18 out of 23 industry groups at NIC 2 digit-level have recorded a positive growth in November 2024 over November 2023. The top three positive contributors for the month of November 2024 are – “Manufacture of basic metals” (7.6%), “Manufacture of electrical equipment” (37.2%) and “Manufacture of other non-metallic mineral products” (12.0%).
5. In the industry group “Manufacture of basic metals”, item groups “Galvanized products of Steel (including colour coated tin plates, TMBP and Tin free steel)”, “Pipes and tubes of Steel”, “Flat products of Alloy Steel” have shown significant contribution in growth.
6. In the industry group “Manufacture of electrical equipment”, item groups “Electric heaters”, “Transformers (Small)”, “End facing connector for optical fibres and cables” have shown significant contribution in growth.
7. In the industry group “Manufacture of other non-metallic mineral products” item groups “Pre-fabricated Concrete blocks (including RMC)”, “Cement- all types”, “Fibre glass” have shown significant contribution in growth.
8.  As per the use base classification, the indices stand at 147.7 for Primary Goods, 106.8 for Capital Goods, 158.8 for Intermediate Goods and 180.6 for Infrastructure/ Construction Goods for the month of November 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 120.5 and 158.1 respectively.
9.  The corresponding growth rates of IIP as per Use-based classification in November 2024 over November 2023 are 2.7 percent in Primary goods, 9.0 percent in Capital goods, 5.0 percent in Intermediate goods, 10.0 percent in Infrastructure/ Construction Goods, 13.1 percent in Consumer durables and 0.6 percent in Consumer non-durables (Statement III).  Based on use-based classification, top three positive contributors to the growth of IIP for the month of November 2024 are – Infrastructure/ construction goods, Consumer durables and Primary goods.
10.   Monthly Indices and Growth Rate (in %) of IIP for the last 13 months

3.  Along with the Quick Estimates of IIP for the month of November 2024, the indices for October 2024 have undergone the first revision and those for August 2024 have undergone final revision in the light of the updated data received from the source agencies. The Quick Estimates for November 2024, the first revision for October 2024 and the final revision for August 2024 have been compiled at weighted response rates of 87 percent, 94 percent and 96 percent respectively.

4.     Details of Quick Estimates of the Index of Industrial Production for the month of November 2024 at Sectoral, 2-digit level of National Industrial Classification (NIC-2008) and by Use-based classification are given at Statements I, II and III respectively. Also, for users to appreciate the changes in the industrial sector, Statement IV provides month-wise indices for the last 13 months, by industry groups (as per 2-digit level of NIC-2008) and sectors.

5.     Release of the Index for December 2024 will be on Wednesday, 12^th February 2025.