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Industrial growth in January has reached the 8 -month high of 5%. It was 4.2% a year ago i.e. in January 2024. In December 2024, industrial production increased by 3.2%. Industrial growth has increased due to good performance of the manufacturing sector. Manufacturing contributes more than three-fourths to the IIP.
The output of India’s manufacturing sector increased by 5.5% in January, compared to 3.6% in the same month last year. At the same time, the production of mining sector saw a growth of 4.4% in January, which was 6.0% in the same period last year. The electricity sector grew 2.4% in January. Last year, it recorded a growth of 5.6% in the same month.
Sector Wise Industrial Growth in January compared to December:
- Manufacturing: 5.5% in January against 3.4% of December
- Mining: 4.4% in January against 2.7% of December
- Electricity: 2.4% in January against 6.2% of December
- Primary Goods: 5.5% in January against 3.8% of December
- Capital Goods: 7.8% in January against 10.4% of December
- Intermediate Goods: 5.2% in January against 6.4% of December
- Infrastructure Goods: 7% in January against 7.4% of December
- Consumer Durable Goods: 7.2% in January against 8.3% of December
- Consumer non -durable goods: 0.2% in January against 7.5% of December
What is the Index of Industrial Production (IIP)?
As the name itself is clear, the production figures of industries are called industrial production. It includes three large sectors. The first is- manufacturing, ie what is made in industries, such as vehicles, cloth, steel, cement.
The second is- mining, which gets coal and minerals. The third is- utilitis means things used for common people. Such as roads, dams and bridges. All these productions together are called industrial production.
How is it measured?
IIP is a unit to measure industrial production- Index of Industrial Production. For this, the base year of 2011-12 has been fixed. That is, as compared to 2011-12, the faster or decrease in the production of industries is called IIP.
77.63% of this entire IIP comes from the manufacturing sector. Apart from this, electricity, steel, refinery, crude oil, coal, cement, natural gas and fertilizer- the direct impact of the production of these eight big industries is visible on the IIP.
