In comparison to the same period the previous year, India’s Index of Industrial Production (IIP) increased by 5% in April 2024. As of April 2023, the IIP growth rate stood at 4.6 percent. The manufacturing sector grew by 3.9 percent, the electricity sector by 10.2 percent, and the mining sector by 6.7 percent in April 2024 compared to April 2023, according to data released by the Ministry of Statistics and Program Implementation.
The top three factors that have positively contributed to the rise of IIP, according to use-based classification, are consumer durables, infrastructure or construction products, and primary goods. On a month-to-month basis, nevertheless, the growth in industrial output has slowed to a three-month low. In April 2024, the IIP decreased to 5% from 5.4% in March and 5.6% in February.