Thursday, November 14, 2024
News

India's index of industrial production shows 3.1 per cent growth in September 2024

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | November 12, 2024 5:12:00 PM IST
India's industrial sector demonstrated renewed momentum as the Index of Industrial Production (IIP) recorded a growth rate of 3.1 per cent in September 2024.

According to the Ministry of Statistics & Programme Implementation, this marks a significant improvement from the previous month, where the IIP experienced a minor contraction of -0.1 per cent in August.

The overall index rose to 146.7, compared to 142.3 in September 2023, showcasing a strong performance across several key industries, with manufacturing leading the way.

The three core sectors--Mining, Manufacturing, and Electricity--exhibited varied performances in September. Mining showed a modest growth of 0.2 per cent, while the Manufacturing sector experienced a robust 3.9 per cent increase, becoming the primary driver of growth in the industrial segment.

Electricity, although growing more slowly, registered a rise of 0.5 per cent. Within the manufacturing sector, the top contributors to this growth were "Manufacture of coke and refined petroleum products," which grew by 5.3 per cent; "Manufacture of basic metals," up by 2.5 per cent; and "Manufacture of electrical equipment," which saw an impressive surge of 18.7 per cent.

Examining the IIP growth through a use-based classification, the report showed widespread improvements across different segments.

Primary Goods recorded a growth rate of 1.8 per cent, while Capital Goods saw a 2.8 per cent increase. Intermediate Goods led with a 4.2 per cent growth, contributing significantly to the overall IIP rise.

Infrastructure and Construction Goods grew by 3.3 per cent, and Consumer Durables witnessed the highest growth rate among all categories at 6.5 per cent.

Consumer Non-Durables also saw a positive uptick with a 2.0 per cent increase. Among these, Intermediate Goods, Consumer Durables, and Primary Goods emerged as the top contributors to the September IIP growth, highlighting strong demand across various consumer and industrial segments.

The IIP data, compiled monthly with inputs from source agencies and establishments, underwent revisions for accuracy.

Alongside September's Quick Estimates, the indices for August and June 2024 were revised based on updated data, achieving weighted response rates of 91 per cent, 94 per cent, and 96 per cent, respectively, for each month.

This iterative revision process ensures a comprehensive and accurate picture of India's industrial performance. The next set of IIP data, covering October 2024, is scheduled for release on December 12. (ANI)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Government taking steps to check Onion p...
Pritika Engineering Components Limited D...
Minister Jayant Chaudhary Backs MESC in ...
How Shervani Hotels Are Leading the Way ...
Greaves Cotton Limited Delivers healthy ...
String Metaverse Ltd (Biogreen Papers Lt...
More...
 
INDIA WORLD ASIA
JP Nadda accuses Congress of 'promoting ...
Tamil Nadu CM speaks with doctor stabbed...
Rajasthan: Stones pelted, vehicles torch...
Defence Space Agency conducts maiden 'Ex...
'Tamil Nadu facing worst law and order s...
Uttar Pradesh: CBI arrests Railway offic...
More...    
 
 Top Stories
Taiwan reports increased Chinese mi... 
78 deaths, 122 wounded in Israeli a... 
COP Presidencies Troika explore in ... 
Mohammed bin Salman, Putin discuss ... 
Rajasthan: Stones pelted, vehicles ... 
Over 115,000 users leave X after US... 
JP Nadda accuses Congress of "promo... 
Defence Space Agency conducts maide...