For March 2024, the Quick Estimates of the Index of Industrial Production (IIP) with a base of 2011-12 stood at 159.2. The Indices of Industrial Production for the Mining, Manufacturing, and Electricity sectors for the month of March 2024 were 156.1, 155.1, and 204.2, respectively.
The IIP growth rate for March 2024 compared to the corresponding period of the previous year is 4.9 percent. The growth rates of the three sectors—Mining, Manufacturing, and Electricity—for March 2024 over March 2023 are 1.2 percent, 5.2 percent, and 8.6 percent, respectively. Within the manufacturing sector, the growth rates of the top three positive contributors to the growth of IIP for March 2024 are the Manufacture of Basic Metals (7.7 percent), Manufacture of Pharmaceuticals, Medicinal Chemical, and Botanical Products (16.7 percent), and Manufacture of Other Transport Equipment (25.4 percent).
The cumulative growth rate for the period of April-March 2023-24 over the corresponding period of the previous year stood at 5.8 percent. The cumulative growth rates of the three sectors—Mining, Manufacturing, and Electricity—for the period of April-March 2023-24 over the corresponding period of the previous year are 7.5 percent, 5.5 percent, and 7.1 percent, respectively.
As per Use-based classification, the indices for March 2024 were 162.2 for Primary Goods, 130.5 for Capital Goods, 167.5 for Intermediate Goods, and 194.2 for Infrastructure/Construction Goods. Additionally, the indices for Consumer Durables and Consumer Non-Durables were 129.9 and 154.7, respectively.
The corresponding growth rates of IIP by Use-based classification in March 2024 over March 2023 are 2.5 percent in Primary Goods, 6.1 percent in Capital Goods, 5.1 percent in Intermediate Goods, 6.9 percent in Infrastructure/Construction Goods, 9.5 percent in Consumer Durables, and 4.9 percent in Consumer Non-Durables (Statement III).
Along with the Quick Estimates of IIP for March 2024, the indices for February 2024 have undergone the first revision, and those for December 2023 have undergone final revision based on updated data received from the source agencies.
