IIP Growth Slows To 3.8 Pc In Jan On Poor Showing By Manufacturing, Mining: Govt Data

NEW DELHI: India's industrial production growth slowed to 3.8 per cent in January 2024, mainly due to 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.

"India's Index of Industrial Production grows by 3.8 per cent in January 2024," the Ministry of Statistics & Programme Implementation said in a release.

As per the latest data, the manufacturing sector's output growth decelerated to 3.2 per cent in January against 4.5 per cent a year ago.

The power generation growth also slowed to 5.6 per cent in January from 12.7 per cent growth in the year-ago period.

The mining output growth decelerated to 5.9 per cent in the month under review

"INDIA'S INDEX OF INDUSTRIAL PRODUCTION GROWS BY 3.8 PER CENT IN JANUARY 2024,"

THE MINISTRY OF STATISTICS & PROGRAMME IMPLEMENTATION SAID IN A RELEASE.

against 9 per cent.

As per use-based classification, the 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.

In January this year, consumer durables output expanded 10.9 per cent. It had contracted by 8.2 per cent in January 2023.

Consumer non-durable goods output declined by 0.3 per cent compared to a 6.5 per cent expansion in January 2023.

According to the data, infrastructure/construction goods too reported a deceleration at 4.6 per cent in January 2024 against an 11.3 per cent expansion in the year-ago period.

The data also showed that 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.