India’s IIP records a growth of 5.9% in the May 2024
India’s IIP records a growth of 5.9% in the May 2024
The Quick Estimates of Index of Industrial Production (IIP) are released on 12th of every month (or previous working day if 12th is a holiday) with a six weeks lag and compiled with data received from source agencies, which in turn receive the data from the producing factories/ establishments. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.
Key Highlights:
Indices
Growth Rate (Y-o-Y)
3. Along with the Quick Estimates of IIP for the month of May 2024, the indices for April 2024 have undergone the first revision and those for February 2024 have undergone final revision in the light of the updated data received from the source agencies. The Quick Estimates for May 2024, the first revision for April 2024 and the final revision for February 2024 have been compiled at weighted response rates of 91 percent, 94 percent and 96 percent respectively.
4. Details of Quick Estimates of the Index of Industrial Production for the month of May 2024 at Sectoral, 2-digit level of National Industrial Classification (NIC-2008) and by Use-based classification are given at Statements I, II and III respectively. Also, for users to appreciate the changes in the industrial sector, Statement IV provides month-wise indices for the last 12 months, by industry groups (as per 2-digit level of NIC-2008) and sectors.
5. Release of the Index for June 2024 will be on Monday, 12th August 2024.
Note: –
STATEMENT I: INDEX OF INDUSTRIAL PRODUCTION – SECTORAL
(Base: 2011-12=100)
Month
Mining
Manufacturing
Electricity
General
(14.372472)
(77.63321)
(7.994318)
(100)
2023-24
2024-25
2023-24
2024-25
2023-24
2024-25
2023-24
2024-25
Apr
122.6
130.9
138.8
144.2
192.3
212.0
140.7
147.7
May*
128.1
136.5
143.1
149.7
201.6
229.3
145.6
154.2
Jun
122.3
141.6
205.2
143.9
Jul
111.9
142.1
204.0
142.7
Aug
111.9
144.4
220.5
145.8
Sep
111.5
141.5
205.9
142.3
Oct
127.4
142.1
203.8
144.9
Nov
131.3
139.3
176.3
141.1
Dec
139.5
151.6
181.6
152.3
Jan
144.3
150.8
197.1
153.6
Feb
139.7
144.4
187.2
147.1
Mar
156.2
156.0
204.2
159.9
Average
Apr-May
125.4
133.7
141.0
147.0
197.0
220.7
143.2
151.0
Growth over the corresponding period of previous year#
Apr
5.1
6.8
5.5
3.9
-1.1
10.2
4.6
5.0
May*
6.4
6.6
6.3
4.6
0.9
13.7
5.7
5.9
Apr-May
5.8
6.6
5.9
4.3
-0.1
12.0
5.1
5.4
* Figures for May 2024 are Quick Estimates.
NOTE: Indices for the months of Feb’24 and Apr’24 incorporate updated production data.
#The growth rates over corresponding period of previous year are to be interpreted considering the unusual circumstances on account of COVID 19 pandemic since March 2020
STATEMENT II: INDEX OF INDUSTRIAL PRODUCTION – (2-DIGIT LEVEL)
(Base: 2011-12=100)
Industry
Description
Weight
Index
Cumulative Index
Percentage growth#
code
May’23
May’24*
Apr-May*
May’24*
Apr-May*
2023-24
2024-25
2024-25
10
Manufacture of food products
5.3025
123.2
116.4
130.5
118.3
-5.5
-9.3
11
Manufacture of beverages
1.0354
124.1
134.2
116.7
128.0
8.1
9.7
12
Manufacture of tobacco products
0.7985
83.7
87.8
75.4
74.5
4.9
-1.2
13
Manufacture of textiles
3.2913
107.4
106.7
106.5
105.6
-0.7
-0.8
14
Manufacture of wearing apparel
1.3225
112.2
123.2
102.2
114.2
9.8
11.7
15
Manufacture of leather and related products
0.5021
101.1
102.4
99.4
95.9
1.3
-3.5
16
Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
0.1930
98.7
99.5
94.1
91.9
0.8
-2.3
17
Manufacture of paper and paper products
0.8724
77.9
81.9
78.9
79.1
5.1
0.3
18
Printing and reproduction of recorded media
0.6798
88.7
86.2
88.7
85.0
-2.8
-4.2
19
Manufacture of coke and refined petroleum products
11.7749
138.0
140.7
133.6
138.1
2.0
3.4
20
Manufacture of chemicals and chemical products
7.8730
133.8
133.1
130.2
130.4
-0.5
0.2
21
Manufacture of pharmaceuticals, medicinal chemical and botanical products
4.9810
227.9
245.0
232.5
244.6
7.5
5.2
22
Manufacture of rubber and plastics products
2.4222
112.7
111.7
109.5
109.9
-0.9
0.4
23
Manufacture of other non-metallic mineral products
4.0853
148.4
148.7
147.6
148.4
0.2
0.5
24
Manufacture of basic metals
12.8043
206.3
222.4
204.1
220.6
7.8
8.1
25
Manufacture of fabricated metal products, except machinery and equipment
2.6549
87.1
97.8
81.8
91.0
12.3
11.2
26
Manufacture of computer, electronic and optical products
1.5704
115.1
138.2
113.3
126.2
20.1
11.4
27
Manufacture of electrical equipment
2.9983
106.6
122.3
106.6
116.2
14.7
9.0
28
Manufacture of machinery and equipment n.e.c.
4.7653
116.2
118.2
112.0
113.1
1.7
1.0
29
Manufacture of motor vehicles, trailers and semi-trailers
4.8573
126.1
133.9
119.5
130.1
6.2
8.9
30
Manufacture of other transport equipment
1.7763
131.2
153.2
125.4
146.8
16.8
17.1
31
Manufacture of furniture
0.1311
179.9
221.6
162.3
215.5
23.2
32.8
32
Other manufacturing
0.9415
79.2
72.4
83.5
84.8
-8.6
1.6
05
Mining
14.3725
128.1
136.5
125.4
133.7
6.6
6.6
10-32
Manufacturing
77.6332
143.1
149.7
141.0
147.0
4.6
4.3
35
Electricity
7.9943
201.6
229.3
197.0
220.7
13.7
12.0
General Index
100.00
145.6
154.2
143.2
151.0
5.9
5.4
* Figures for May’24 are Quick Estimates.
#The growth rates over corresponding period of previous year are to be interpreted considering the unusual circumstances on account of COVID 19 pandemic since March 2020
STATEMENT III: INDEX OF INDUSTRIAL PRODUCTION – USE-BASED
(Base :2011-12=100)
Primary goods
Capital goods
Intermediate goods
Infrastructure/ construction goods
Consumer durables
Consumer non-durables
Month
(34.048612)
(8.223043)
(17.221487)
(12.338363)
(12.839296)
(15.329199)
2023-24
2024-25
2023-24
2024-25
2023-24
2024-25
2022-23
2024-25
2023-24
2024-25
2023-24
2024-25
Apr
142.2
152.2
92.4
94.9
152.0
156.9
169.8
183.4
108.1
118.9
154.7
150.9
May*
149.9
160.9
102.6
105.2
156.9
160.8
173.2
185.1
115.6
129.8
149.8
153.3
Jun
146.7
107.4
154.2
170.9
116.8
146.7
Jul
141.8
102.1
153.8
170.3
117.0
153.5
Aug
145.4
107.4
157.4
176.8
123.2
148.3
Sep
138.8
112.6
154.2
172.8
125.0
142.6
Oct
146.1
106.1
157.5
175.9
123.0
142.4
Nov
143.8
98.0
151.3
164.2
106.5
157.2
Dec
151.9
103.8
159.8
180.3
114.5
179.7
Jan
154.3
108.3
163.8
186.6
121.4
164.9
Feb
148.2
106.7
157.6
179.5
121.9
149.9
Mar
163.1
131.1
168.2
195.2
129.9
155.3
Average
Apr-May
146.1
156.6
97.5
100.1
154.5
158.9
171.5
184.3
111.9
124.4
152.3
152.1
Growth over the corresponding period of previous year#
Apr
1.9
7.0
4.4
2.7
1.7
3.2
13.4
8.0
-2.3
10.0
11.4
-2.5
May*
3.6
7.3
8.1
2.5
3.4
2.5
13.0
6.9
1.5
12.3
8.9
2.3
Apr-May
2.8
7.2
6.3
2.7
2.6
2.8
13.2
7.5
-0.4
11.2
10.2
-0.1
* Figures for May 2024 are Quick Estimates.
NOTE: Indices for the months of Feb’24 and Apr’24 incorporate updated production data.
#The growth rates over corresponding period of previous year are to be interpreted considering the unusual circumstances on account of COVID 19 pandemic since March 2020
STATEMENT IV: MONTHLY INDEX OF INDUSTRIAL PRODUCTION – (2-DIGIT LEVEL)
(Base: 2011-12=100)
Industry code
Description
Weight
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Apr-24
May-24
10
Manufacture of food products
5.3025
113.6
121.6
123.9
114.6
123.5
141.5
160.8
158.9
151.9
142.5
120.2
116.4
11
Manufacture of beverages
1.0354
125.0
109.4
103.4
101.6
99.6
100.7
101.3
112.6
120.0
124.3
121.8
134.2
12
Manufacture of tobacco products
0.7985
93.8
71.8
81.4
89.8
82.7
79.8
82.7
84.6
77.3
78.4
61.1
87.8
13
Manufacture of textiles
3.2913
107.8
108.5
107.1
108.4
110.2
102.7
112.3
109.7
104.1
106.5
104.4
106.7
14
Manufacture of wearing apparel
1.3225
120.1
103.9
97.8
102.4
97.8
92.9
113.1
117.3
125.6
143.2
105.1
123.2
15
Manufacture of leather and related products
0.5021
103.4
95.1
92.4
91.8
91.1
78.8
95.9
99.9
96.8
95.9
89.3
102.4
16
Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
0.1930
98.0
98.4
98.5
108.1
93.7
87.6
97.7
96.4
101.7
111.5
84.3
99.5
17
Manufacture of paper and paper products
0.8724
81.3
82.1
82.3
78.5
78.5
73.3
78.1
79.1
79.2
83.2
76.2
81.9
18
Printing and reproduction of recorded media
0.6798
88.7
89.0
91.0
87.5
87.0
84.1
95.5
91.3
88.8
92.3
83.8
86.2
19
Manufacture of coke and refined petroleum products
11.7749
133.5
131.9
131.7
122.4
125.7
132.9
141.9
134.7
131.2
142.4
135.4
140.7
20
Manufacture of chemicals and chemical products
7.8730
130.5
128.6
126.8
123.6
126.5
119.5
127.5
127.6
125.4
130.3
127.6
133.1
21
Manufacture of pharmaceuticals, medicinal chemical and botanical products
4.9810
225.3
244.5
225.9
220.1
212.8
244.3
286.3
245.6
205.6
228.1
244.2
245.0
22
Manufacture of rubber and plastics products
2.4222
106.5
107.7
108.5
106.5
109.0
105.1
106.9
112.8
110.3
116.8
108.1
111.7
23
Manufacture of other non-metallic mineral products
4.0853
149.5
134.0
142.5
132.8
140.5
127.0
147.1
147.5
147.7
165.4
148.0
148.7
24
Manufacture of basic metals
12.8043
203.4
209.4
217.4
213.6
217.2
207.3
220.2
226.9
213.2
232.1
218.8
222.4
25
Manufacture of fabricated metal products, except machinery and equipment
2.6549
86.7
83.8
100.0
97.1
92.8
81.0
98.1
95.1
95.7
114.8
84.2
97.8
26
Manufacture of computer, electronic and optical products
1.5704
121.9
118.6
131.4
149.4
123.1
96.7
111.6
120.8
125.8
134.7
114.2
138.2
27
Manufacture of electrical equipment
2.9983
103.5
102.5
108.6
108.0
94.8
89.0
116.6
108.1
111.5
124.3
110.1
122.3
28
Manufacture of machinery and equipment n.e.c.
4.7653
123.7
119.9
126.3
127.0
123.3
109.1
115.5
116.4
121.0
145.1
108.0
118.2
29
Manufacture of motor vehicles, trailers and semi-trailers
4.8573
123.6
129.5
128.6
130.5
135.7
126.7
118.5
140.5
130.4
130.3
126.2
133.9
30
Manufacture of other transport equipment
1.7763
140.6
123.5
145.9
166.0
157.2
144.5
137.2
149.5
145.8
175.7
140.3
153.2
31
Manufacture of furniture
0.1311
183.0
190.6
189.5
185.1
176.8
144.5
197.4
199.0
227.7
278.6
209.4
221.6
32
Other manufacturing
0.9415
85.6
97.1
94.6
96.7
103.7
65.8
70.5
76.6
76.4
90.0
97.1
72.4
5
Mining
14.3725
122.3
111.9
111.9
111.5
127.4
131.3
139.5
144.3
139.7
156.2
130.9
136.5
10-32
Manufacturing
77.6332
141.6
142.1
144.4
141.5
142.1
139.3
151.6
150.8
144.4
156.0
144.2
149.7
35
Electricity
7.9943
205.2
204.0
220.5
205.9
203.8
176.3
181.6
197.1
187.2
204.2
212.0
229.3
General Index
100
143.9
142.7
145.8
142.3
144.9
141.1
152.3
153.6
147.1
159.9
147.7
154.2
* Figures for May’24 are Quick Estimates.
NOTE: Indices for the months of Feb’24 and Apr’24 incorporate updated production data.
- For the month of May 2024, the Quick Estimates of IIP with base 2011-12 stands at 154.2 against 145.6 in May 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of May 2024 stand at 136.5, 149.7 and 229.3 respectively.
- As per Use-based classification, the indices stand at 160.9 for Primary Goods, 105.2 for Capital Goods, 160.8 for Intermediate Goods and 185.1 for Infrastructure/ Construction Goods for the month of May 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 129.8 and 153.3 respectively for the month of May 2024.