India's industrial production growth falls to 3.2% in December
What's the story
India's industrial output, measured by the Index of Industrial Production (IIP), has slowed down. The growth rate fell to 3.2% in December 2024, down from a high of 5.2% in November, data released by the Ministry of Statistics and Programme Implementation (MoSPI) revealed. This marks a major deceleration in the country's industrial production growth.
Sectoral performance
Sector-wise growth rates
The MoSPI data also gave a sector-wise breakup of the growth rates in three major sectors, namely mining, manufacturing, and electricity. In December last year, these sectors witnessed growth rates of 2.6%, 3.0%, and 6.2% respectively. The electricity sector led the way with a strong growth rate of more than 6%.
Information
Factory output saw 4.4% growth in Dec 2023
The factory output in India witnessed a growth of 4.4% in December 2023. Meanwhile, industrial output rose by 4% in the April-December period, compared to around 6.3% a year ago.