Srotaswini Mohapatra
Pune, 13 August 2024
In June 2024, the Quick Estimates of the Index of Industrial Production (IIP) with a base year of 2011-12 is reported at 150.0, up from 143.9 in June 2023. The sector-wise Indices of Industrial Production for June 2024 are as follows: Mining at 134.9, Manufacturing at 145.3, and Electricity at 222.8.
According to the use-based classification, the indices for June 2024 are :
Primary Goods at 156.0, Capital Goods at 110.0, Intermediate Goods at 159.0, and Infrastructure/Construction Goods at 178.4. Additionally, the indices for Consumer Durables and Consumer Non-Durables are 126.9 and 144.6, respectively.
Growth Rate (Y-o-Y)
The IIP growth rate for June 2024 over the corresponding period of the previous year is 4.2 percent. The IIP growth rate in June 2023 was 4.0 percent. The growth rates of the three sectors, Mining, Manufacturing and Electricity for 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 June 2024 are – Primary goods, Consumer durables and Infrastructure/Construction goods.
