Manufacturing, Mining, and Power sectors drag down industrial output to 3.8pc in Jan
In December 2023, IIP growth stood at 4.2 per cent. It was 2.4 per cent in November 2023
image for illustrative purpose
Hyderabad: India's industrial production growth slowed to 3.8 per cent in January 2024, mainly due to the poor performance of manufacturing, mining, and power sectors, according to official data released on Tuesday.
The factory output growth measured in terms of the Index of Industrial Production (IIP) was 5.8 per cent in January 2023.
In December 2023, IIP growth stood at 4.2 per cent. It was 2.4 per cent in November 2023.
During the April-January period of this fiscal, IIP growth touched 5.9 per cent, up from 5.5 per cent in the year-ago period.
The Ministry of Statistics & Programme Implementation said in a release that India's Index of Industrial Production grew by 3.8 per cent in January 2024.
The manufacturing sector's output growth decelerated to 3.2 per cent in January against 4.5 per cent a year ago.
Power generation growth also slowed to 5.6 per cent in January from 12.7 per cent growth in the year-ago period.
Mining output growth decelerated to 5.9 per cent in the month under review against 9 per cent.
Capital goods segment growth fell to 4.1 per cent in January 2024 compared to a growth of 10.5 per cent in the year-ago period.
Consumer durables output expanded 10.9 per cent in January this year, while consumer non-durable goods output declined by 0.3 per cent compared to a 6.5 per cent expansion in January 2023.
Infrastructure/construction goods reported a deceleration at 4.6 per cent in January 2024 against an 11.3 per cent expansion in the year-ago period.
The output of primary goods logged 2.9 per cent growth in January this year, down from 9.8 per cent a year ago.
The expansion in the intermediate goods segment was 4.8 per cent in the month under review, higher than the 1.4 per cent recorded in the same period a year ago.
