Key Points
India's Industrial Production (IIP) growth rate stood at 4.9% in March, down from 5.7% in February, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday...
The last peak in IIP was seen in October 2023 at 11.9%, followed by a decline in subsequent months: 2.5% in November, 4.2% in December, and 4.1% in January 2024...
The top three sectors driving this growth were 'Manufacture of basic metals' (7.7% growth), 'Manufacture of pharmaceuticals, medicinal chemical and botanical products' (16.7% growth), and 'Manufacture of other transport equipment' (25.4% growth)...
"Within the manufacturing sector, the growth rate of the top three positive contributors to the growth of IIP for the month of March 2024 are Manufacture of basic metals (7.7 per cent), Manufacture of pharmaceuticals, medicinal chemical and botanical products (16.7 per cent), and Manufacture of other transport equipment (25.4 per cent)," said the official press release...
Analysing the use-based classification of industrial production, the growth rates for various categories in March 2024 over March 2023 were as follows: 2.5% in primary goods, 6.1% in capital goods, 5.1% in intermediate goods, 6.9% in infrastructure/construction goods, 9.5% in consumer durables, and 4.9% in consumer non-durables...
