India’s Index of Industrial Production (IIP) recorded a growth of 5.2% in November 2024, marking the highest growth rate in the past six months. This increase follows a growth rate of 3.5% in October 2024, according to data released by the Ministry of Statistics.

The November performance represents an improvement over the 2.5% growth recorded in the same month in 2023. The manufacturing sector, which constitutes the largest share of the IIP, recorded a growth of 5.8% during November, compared to 4.1% in October.

Eighteen out of 23 industry groups within the manufacturing sector showed growth during November when compared to the same period last year. Among these, the manufacture of basic metals grew by 7.6%, electrical equipment production rose by 37.2%, and other non-metallic mineral products saw a 12% increase.

The electricity sector recorded a growth rate of 1.9% in November, improving from 0.9% in October. Meanwhile, the mining sector achieved a growth rate of 4.4% during the same period.

The production of capital goods, which include machinery and equipment used in industrial processes, increased by 9% in November. This reflects investment activity in the economy. Additionally, consumer durable production, including items such as electronic goods and appliances, rose by 13.1%, reflecting increased demand.

For the April-November period of the 2024-25 financial year, the industrial growth rate stands at 4.1%. The data highlights an overall positive trend in industrial activity in the country during the current financial year.

-IANS