According to the Ministry of Statistics and Programme Implementation (MoSPI), India’s industrial production growth slowed to 4.2 per cent in June from 6.2 per cent in May.
It was found that the Index of Industrial Production (IIP) went up by 4.0 per cent in June 2023. October 2023 saw the highest growth in IIP, at 11.9 per cent. After that, growth dropped to 2.5 per cent in November, 4.2 per cent in December, and 4.1 per cent in January 2024.
Mining grew by 10.3 per cent in June 2024, while Manufacturing grew by 2.6 per cent and Electricity grew by 8.6 per cent. The rise in capital goods was 2.4 per cent, down from 2.9 per cent the year before.
It went up by 8.6 per cent for durable goods, but it went down by 1.4 per cent for non-durable goods, which is less than the 2.5 per cent drop seen in May. Infrastructure and construction goods only grew by 4.4 per cent, which is a lot less than the 13.3 per cent growth seen a year ago.
The output of primary goods went up by 6.3 per cent, up from 5.3 per cent the previous year. In June 2024, primary goods, consumer durables, and infrastructure/construction goods were the main things that helped the IIP grow.
