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India's Index of Industrial Production (IIP), a measure of industrial output, recorded a growth of 5.0 per cent compared to the same month last year, as per the quick estimates released by the Ministry of Statistics and Programme Implementation on Wednesday.
This growth marks a sharp acceleration from the 3.2 per cent growth reported in December 2024, as per the quick estimates released by the ministry's data. The data reveals positive performance across key sectors of the economy, with growth seen in Mining, Manufacturing, and Electricity. The IIP for January 2025 stands at 161.3, up from 153.6 in January 2024, reflecting a broad-based recovery in industrial activity. The Mining sector recorded a growth of 4.4 per cent in January 2025, continuing its positive momentum. Manufacturing saw an impressive growth of 5.5 per cent in January 2025, driven by strong performance in several key industry groups. The Electricity sector grew at a more modest pace of 2.4 per cent, still contributing positively to the overall industrial growth. Within the manufacturing sector, 19 out of 23 industry groups at the NIC 2-digit level showed positive growth in January 2025. Notable contributors to the growth include basic metal manufacturing which gew by 6.3 per cent, with significant contributions from flat products of alloy steel, pipes and tubes of steel and others matals. Manufacture of Coke and Refined Petroleum Products recorded an 8.5 per cent growth, largely driven by items like Diesel, Petrol/Motor Spirit, and Liquefied Petroleum Gas (LPG). Manufacture of Electrical Equipment segment showed a substantial growth of 21.7 per cent, with key contributors such as Transformers (Small), end facing connector for optical fibers and cables, and Electric heaters. As per the data, the primary drivers of industrial growth in January 2025 were Primary Goods, Infrastructure/Construction Goods, and Intermediate Goods, all of which saw substantial growth rates. (ANI)
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