Index of industrial production expands at 4.2% on year in June

India's industrial production growth came in at 4.2 percent in June on a year ago basis, softening compared with 5.9% in the previous month, according to data released today. The IIP growth rate in June 2023 was 4.0 percent. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of June 2024 over June 2023 are 10.3 percent, 2.6 percent and 8.6 percent respectively. Within the manufacturing sector, the growth rate of the top three positive contributors to the growth of IIP for the month of June 2024 are - "Manufacture of basic metals" (4.9%), "Manufacture of electrical equipment" (28.4%), and "Manufacture of motor vehicles, trailers and semi-trailers" (4.1%).

The corresponding growth rates of IIP as per Use-based classification in June 2024 over June 2023 are 6.3 percent in Primary goods, 2.4 percent in Capital goods, 3.1 percent in Intermediate goods, 4.4 percent in Infrastructure/ Construction Goods, 8.6 percent in Consumer durables and -1.4 percent in Consumer non-durables. Based on use-based classification, top three positive contributors to the growth of IIP for the month of June 2024 are - Primary goods, Consumer durables and Infrastructure/Construction goods.

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