India’s Index Of Industrial Production Grows By 5.9 % In May 2024

The Index of Industrial Production (IIP) in India rose 5.9 percent in May this year over the corresponding period of previous year. The IIP growth rate in May 2023 was 5.7 percent. As per the Ministry of Statistics and Programme Implementation data released on Friday, Mining experienced a year-on-year growth of 6.6 percentage points. Manufacturing saw a growth of 4.6 percentage while Electricity recorded a significant year-on-year growth of 13.7 percentage



points.

In the reported period of May, according to use-based classification data, the capital goods segment increased by 2.5 per cent, consumer durables surged by 12.3 per cent , Non-durable consumer goods saw a 2.3 per cent growth and goods related to infrastructure and construction experienced a growth of 6.9 per cent. The data also showed that the output of primary goods grew by 7.3 per cent.