New Delhi:

India’s industrial production growth slowed to a three-month low of 3.2 per cent in December 2024, mainly due to poor performance of mining and manufacturing sectors, according to official data released on Wednesday.

The government has also revised the November 2024 industrial output figure to 5 per cent from the provisional estimate of 5.2 per cent released in the previous month.

The pace of factory output growth stood at the same level of 3.2 per cent in September and flat in August 2024. The growth was recorded at 3.7 per cent in October 2024.

The country’s factory output, measured in terms of the Index of Industrial Production (IIP), witnessed a growth of 4.4 per cent in December 2023.

India’s Index of Industrial Production increased by 3.2 per cent in December 2024, an official statement said.

The data released by the National Statistical Office (NSO) showed that the manufacturing sector’s output grew 3 per cent in December 2024, down from 4.6 per cent in the year-ago month.

Mining production growth declined to 2.6 per cent from 5.2 per cent year-on-year.

Power output increased to 6.2 per cent in December 2024 from 1.2 per cent a year ago.

In the April-December 2024 period, the IIP grew 4 per cent, slower than 6.3 per cent recorded in the year-ago period.

As per use-based classification, the capital goods segment growth accelerated to 10.3 per cent in December 2024 against a growth of 3.7 per cent in the year-ago period.

Consumer durables (or white goods production) grew by 8.3 per cent during the reporting month against a growth of 5.2 per cent in December 2023.

In December 2024, consumer non-durables output contracted 7.6 per cent in December last year compared to a growth of 3 per cent in December 2023.

According to the data, infrastructure/construction goods reported a growth of 6.3 per cent in December 2024, up from a 5.5 per cent expansion in the year-ago period.

The data also showed that the output of primary goods logged a 3.8 per cent growth in December 2024 against 4.8 per cent a year earlier.

The expansion in the intermediate goods segment was 5.9 per cent in the month under review, higher than 3.7 per cent a year ago.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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| Photo Credit: The Hindu

India’s industrial production growth accelerated to 5.2% in November this year, mainly due to good show by manufacturing sector, according to official data released on Friday (January 10, 2025).

The factory output, measured in terms of the Index of Industrial Production (IIP), witnessed a growth of 2.5% in November 2023.

India’s Index of Industrial Production increased by 5.2% in November 2024, an official statement said.

The data released by the National Statistical Office (NSO) showed that the manufacturing sector’s output grew 5.8% in November 2024, up from 1.3% in the year-ago month.

Mining production rose 1.9%t and power output increased 4.4% in November 2024.

In the April-November period, the IIP grew 4.1%, down from 6.5% in the year-ago period.

Photo used for representation purpose. File
| Photo Credit: K. Murali Kumar

India’s industrial output returned to the positive trajectory with a moderate uptick of 3.1% in September, after recording the first contraction in 21 months this August, led by a 3.9% growth in manufacturing output even as electricity and mining sectors clocked a mere 0.5% and 0.2% rise, respectively.

The Index of Industrial Production inched up 0.7% from August levels to touch 146.7, but this was still the second weakest output level since December 2023.

The mining and manufacturing indices moved up mildly from August, indicating an rise in month-on-month production levels, but electricity generation fell 2.5% sequentially and was at its lowest since March this year.

Output levels in India’s eight core sectors, which account for about 40% of the IIP, had slipped to a ten-month low in September, even as they grew a mild 2% year-on-year.

Unlike August, when 11 of 23 manufacturing segments contracted, just five industries reported a drop in production volumes compared to last September. However, computers and electronics, which was one of just five segments to clock a double-digit growth in August, slipped into a 1.3% contraction in September.

Industrial output has now grown at 4% through the first half of the year, compared to a 6.2% uptick between April and September 2023, with manufacturing (3.7%) and mining (4.2%) dragging down growth, even as electricity generation grew 6.1%, the same rate as last year.

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| Photo Credit: Getty Images/iStockphoto

India’s industrial output shrank 0.1% in August, led by contractions of 4.3% and 3.7% in mining and electricity, even as manufacturing output grew a meagre 1%. The National Statistical Office said it is likely that the decline in the growth of Mining sector is due to heavy rainfall during the month.

In terms of absolute output levels, the Index of Industrial Production (IIP) has hit a nine-month low of 145.6, marking a 2.5% drop in output from July, when the IIP had risen 4.7% as per updated data, compared to a 4.8% uptick estimated earlier.

Within manufacturing, 11 of 23 major segments recorded a decline in production compared to August 2023. Five segments recorded a double-digit growth — wearing apparel, electrical equipment, computers and electronics, wood and cork products, and furniture. However, significant base effects were responsible for these growth spikes as some of these segments had contracted sharply last year.

Motor vehicle production grew a mere 0.5%, while textiles and leather products rose by just about 2%.

Economists attributed a part of the contraction to broader base effects from August 2023, when industrial output grew 10.9%.

These base effects were also tangible in the trends for factory output categorised by end-use, with consumer non-durables and primary goods contracting 4.5% and 2.6%, respectively, on top of double-digit upticks last year.

Capital goods production rose 0.7% and infrastructure/construction goods saw a mere 1.9% uptick, vis-a-vis strong double-digit surges in August 2023.

Intermediate goods’ output rose 3%, while consumer durables clocked the strongest uptick among these six end-use segments of 5.2%, with August output recovering from a three-month low in July.

For consumer non-durables, this is the fourth straight month of contraction, and it is the only end-use segment to remain in the negative zone through the first five months of 2024-25, with cumulative production 2% below last year.

Overall industrial output has risen 4.2% between April and August this year, compared with a 6.2% growth in the same period of 2023-24, with manufacturing being the weakest link, having risen 3.6% so far this year, while electricity generation has accelerated by 7.1%.

Bank of Baroda chief economist Madan Sabnavis said growth rates may be better from September with a peak being achieved by October-end, which would be the post-harvest and festival season when spending typically increases.

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| Photo Credit: REUTERS

India’s industrial output growth rose 4.8% in July, the second-slowest pace in the financial year 2024-25, from an upgraded 4.7% growth in June, even as mining and electricity growth slowed, and non-consumer durables’ production slipped a sharp 4.4%, marking the third contraction in four months.

In absolute terms, the Index of Industrial Production (IIP) slipped to a three-month low, with production levels declining 0.73% from June. Manufacturing output growth picked up to 4.6% in July, from 3.2% in June, and was the only broad segment to clock a sequential uptick over June’s levels, albeit by a tepid 1.6%.

Mining output grew a mere 3.7% from a 10.3% rise in the previous month. Electricity generation rose 7.9% in July, from 8.6% in June.

On the basis of end-use, production growth fell in four segments in July compared with their pace in June.

Capital goods output grew at the sharpest pace of 12% from a mere 3.8% uptick in June, while intermediate goods production rose 6.8%, over double the 3% pace recorded in the previous month. Primary goods growth slowed a tad to 5.9% from 6.3% in June, while infrastructure and construction goods rose 4.9% from 7.1% a month earlier.

Consumption trends remained mixed even as consumer durables’ output grew 8.2% from last August, as non-durables’ production fell a sharp 4.4%, after a 1.5% drop in June. In absolute terms, non-durables’ output was the second-lowest in nine months, while durables production was at a three-month low.

In the first four months of the fiscal, non-durables’ production has contracted 1.5% while durables have risen 10%. Sequentially, three of the six segments reported lower production volumes than June — primary goods, infrastructure and construction goods, as well as consumer durables.

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India’s industrial output growth slumped to a five-month low of 4.2% in June, with manufacturing output growth halving to 2.6% from the previous month, and electricity generation easing 2.8% from May’s record high in the face of an abating heat wave.

On the basis of end-use, production growth fell in all six segments compared to May, with consumer non-durables’ output shrinking 1.4% from last June, marking the second such contraction in three months.

The National Statistical Office also upgraded May’s Index of Industrial Production (IIP) to 6.2%, the highest in seven months, from its initial estimate of 5.9%.

Mining was the only segment to clock an acceleration in growth in June, with output rising 10.3% year-on-year, from 6.6% in May. However, actual production levels were 1.2% lower than May.

Within manufacturing, which accounts for nearly 78% of the IIP, nine out of 23 segments reported a contraction this June, including beverages, textiles, leather products and pharmaceuticals. Three sectors reported a double-digit rise in production — electrical equipment (28.4%), furniture (16%) and computers and electronics (10.7%).

New Delhi:

Industrial output rose 5.9% year-on-year in May, government data showed on Friday.

Economists polled by Reuters had expected growth of 4.9%.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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| Photo Credit: K. Pichumani

India’s industrial output growth hit a three-month low of 3.7% in June, from a revised 5.3% in May, according to official data, with consumer durables’ production slipping back into contraction mode, and manufacturing growth slowing to 3.1% from 5.8% in May.

The data released by National Statistical Office stated that mining output grew 7.6% in June, while Electricity generation, which had recorded a 0.9% uptick in May after two months of contraction, picked up pace to rise 4.2% in June.

Direct tax collections

India’s net direct tax collections had risen 17.33% as of August 10, with a kitty of ₹5.84 lakh crore that constitutes 32.03% of the total Budget Estimates from Direct Taxes in 2023-24.

Gross direct tax collections were at ₹6.53 lakh crore, as of August 10, 15.73% higher than the revenues for the corresponding period of last year. Refunds issued to taxpayers so far this year stand at ₹69,000 crore, 3.73% higher than this time last year.

Overall industrial output levels were, however, 1.2% below May.

Consumer durables, which had recorded the first uptick in six months during May to rise 1.23%, shrank a sharp 6.9% in June. Overall production of durables remains 2.8% below last year’s levels in the first quarter of 2023-24.

Infrastructure and construction goods continued a strong double-digit growth streak for the third month in a row, rising 11.3% in June. However, their output was 1.6% lower than May.