India's Index of Industrial Production grows by 5.7% in February 2024

The Quick Estimates of the Index of Industrial Production (IIP) for February 2024 indicate a robust industrial performance, with the index standing at 147.2, based on a base year of 2011-12. The indices for the Mining, Manufacturing, and Electricity sectors for the same month are reported at 139.6, 144.5, and 187.1 respectively, showcasing varied growth rates across sectors. The month also sees notable performances across different use-based classifications, with indices standing at 148.2 for Primary Goods, 106.2 for Capital Goods, 158.9 for Intermediate Goods, and 179.8 for Infrastructure/Construction Goods.

Consumer durables and Consumer non-durables stand at 121.6 and 148.9 respectively, reflecting patterns in consumer demand. However, these figures are subject to revision as per the revision policy of IIP, ensuring accuracy and reliability in subsequent releases. In addition to the Quick Estimates for February 2024, revisions have been made for January 2024 and November 2023 indices, with respective weighted response rates of 93%, 95%, and 96%. This reflects a commitment to providing more accurate and refined data to stakeholders.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.