The Index of Industrial Production (IIP) recorded a growth of 2.5 per cenat in November 2023

PTI New Delhi

India's industrial production (IIP) growth accelerated to a six-month high of 5.2 per cent year-on-year in November 2024, riding on the increased festive demand and pick up in manufacturing sector, according to the official data released on Friday.

The Index of Industrial Production (IIP) recorded a growth of 2.5 per cent in November 2023, according to a statement by the Ministry of Statistics & Programme Implementation. The previous high growth rate at 6.3 per cent was recorded in May 2024. It grew by 4.9 per cent in June and 5 per cent in July 2024. 

The IIP growth was flat in August before picking up at 3.1 per cent in September and 3.7 per cent in October 2024. The growth in the factory output, measured in terms of the IIP, in April-November 2024 grew by 4.1 per cent against 6.5 per cent in the year-ago period, the data showed.

As per the data, the mining output growth decelerated to 1.9 per cent in November from 7 per cent expansion in the year-ago month.The manufacturing sector's growth accelerated to 5.8 per cent in November from 1.3 per cent a year ago.

Power generation growth slowed to 4.4 per cent from 5.8 per cent a year ago. As per use-based classification, the capital goods segment growth accelerated to 9 per cent in November 2024 against a contraction of 1.1 per cent in the year-ago period.