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

The Quick Estimates of Index of Industrial Production (IIP) are released on 12^th of every month (or previous working day if 12^th is a holiday) with a six weeks lag and compiled with data received from source agencies, which in turn receive the data from the producing factories/ establishments.

For the month of February 2024, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 147.2. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of February 2024 stand at 139.6, 144.5 and 187.1 respectively. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

As per Use-based classification, the indices stand at 148.2 for Primary Goods, 106.2 for Capital Goods, 158.9 for Intermediate Goods and 179.8 for Infrastructure/ Construction Goods for the month of February 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 121.6 and 148.9 respectively for the month of February 2024.

Details of Quick Estimates of the Index of Industrial Production for the month of February 2024 at Sectoral, 2-digit level of National Industrial Classification (NIC-2008) and by Use-based classification are given at Statements I, II and III respectively. Also, for users to appreciate the changes in the industrial sector, Statement IV provides month-wise indices for the last 12 months, by industry groups (as per 2-digit level of NIC-2008) and sectors.

Along with the Quick Estimates of IIP for the month of February 2024, the indices for January 2024 have undergone the first revision and those for November 2023 have undergone final revision in the light of the updated data received from the source agencies. The Quick Estimates for February 2024, the first revision for January 2024 and the final revision for November 2023 have been compiled at weighted response rates of 93 percent, 95 percent and 96 percent respectively.

Release of the Index for March 2024 will be on Friday, 10^th May 2024.

Note: –

1. This Press release information is also available at the Website of the Ministry –http://www.mospi.gov.in
2. Press release in Hindi follows and shall be available at:

https://www.mospi.gov.in/hi

 

STATEMENT I: INDEX OF INDUSTRIAL PRODUCTION – SECTORAL

 

 

STATEMENT II:  INDEX OF INDUSTRIAL PRODUCTION – (2-DIGIT LEVEL)
(Base: 2011-12=100)
Industry code	Description	Weight	Index		Cumulative Index		Percentage growth #
			Feb’23	Feb’24*	Apr-Feb*		Feb’24*	Apr-Feb*
					2022-23	2023-24		2023-24
10	Manufacture of food products	5.3025	146.8	149.8	131.1	133.3	2.0	1.7
11	Manufacture of beverages	1.0354	104.4	118.4	103.9	109.5	13.4	5.4
12	Manufacture of tobacco products	0.7985	77.9	77.6	87.7	81.4	-0.4	-7.2
13	Manufacture of textiles	3.2913	102.0	105.8	107.3	107.9	3.7	0.6
14	Manufacture of wearing apparel	1.3225	129.1	125.5	127.4	106.7	-2.8	-16.2
15	Manufacture of leather and related products	0.5021	94.9	96.6	95.1	94.9	1.8	-0.2
16	Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials	0.1930	95.1	101.6	104.2	97.1	6.8	-6.8
17	Manufacture of paper and paper products	0.8724	75.1	78.6	82.3	79.0	4.7	-4.0
18	Printing and reproduction of recorded media	0.6798	84.3	89.2	90.5	89.1	5.8	-1.5
19	Manufacture of coke and refined petroleum products	11.7749	126.0	132.2	126.8	132.2	4.9	4.3
20	Manufacture of chemicals and chemical products	7.8730	122.8	126.2	129.3	127.2	2.8	-1.6
21	Manufacture of pharmaceuticals, medicinal chemical and botanical products	4.9810	229.3	204.9	218.1	233.7	-10.6	7.2
22	Manufacture of rubber and plastics products	2.4222	98.8	110.2	104.0	108.3	11.5	4.1
23	Manufacture of other non-metallic mineral products	4.0853	136.8	150.0	133.7	142.5	9.6	6.6
24	Manufacture of basic metals	12.8043	195.4	212.6	189.9	212.2	8.8	11.7
25	Manufacture of fabricated metal products, except machinery and equipment	2.6549	83.7	96.2	84.4	90.8	14.9	7.6
26	Manufacture of computer, electronic and optical products	1.5704	123.8	126.1	137.4	120.6	1.9	-12.2
27	Manufacture of electrical equipment	2.9983	101.6	111.8	98.4	105.0	10.0	6.7
28	Manufacture of machinery and equipment n.e.c.	4.7653	115.5	119.9	110.9	118.7	3.8	7.0
29	Manufacture of motor vehicles, trailers and semi-trailers	4.8573	116.8	130.3	113.8	127.5	11.6	12.0
30	Manufacture of other transport equipment	1.7763	117.2	145.8	125.8	141.9	24.4	12.8
31	Manufacture of furniture	0.1311	173.3	212.6	203.5	182.0	22.7	-10.6
32	Other manufacturing	0.9415	81.6	76.3	89.3	84.8	-6.5	-5.0
05	Mining	14.3725	129.2	139.6	116.8	126.4	8.0	8.2
10-32	Manufacturing	77.6332	137.6	144.5	136.2	143.6	5.0	5.4
35	Electricity	7.9943	174.0	187.1	185.0	197.8	7.5	6.9
	General Index	100.00	139.3	147.2	137.3	145.4	5.7	5.9
* Figures for Feb’24 are Quick Estimates.
#The growth rates over corresponding period of previous year are to be interpreted considering the unusual circumstances on account of COVID 19 pandemic since March 2020

 

 

STATEMENT III: INDEX OF INDUSTRIAL PRODUCTION – USE-BASED
(Base :2011-12=100)
	Primary goods		Capital goods		Intermediate goods		Infrastructure/ Construction goods		Consumer durables		Consumer non-durables
Month	(34.048612)		(8.223043)		(17.221487)		(12.338363)		(12.839296)		(15.329199)
	2022-23	2023-24	2022-23	2023-24	2022-23	2023-24	2022-23	2023-24	2022-23	2023-24	2022-23	2023-24
Apr	139.5	142.2	88.5	92.4	149.5	152.0	149.7	169.8	110.7	108.1	138.9	154.7
May	144.7	149.9	94.9	102.6	151.7	156.9	153.3	173.2	113.9	115.6	137.5	149.8
Jun	139.3	146.7	104.4	107.4	146.6	154.2	150.8	170.9	125.3	116.8	145.9	146.7
Jul	131.7	141.8	97.1	102.1	149.0	153.8	151.3	170.3	121.4	117.0	141.7	153.5
Aug	129.4	145.4	95.0	107.4	146.6	157.4	152.8	176.8	116.2	123.2	134.9	148.3
Sep	128.5	138.8	103.9	112.6	145.3	154.2	156.9	172.8	123.8	125.0	138.9	142.6
Oct	131.2	146.1	87.2	106.1	143.8	157.5	156.2	175.9	106.1	123.0	130.3	142.4
Nov	132.6	143.8	99.1	98.0	146.3	151.3	161.7	164.2	111.9	106.5	162.7	157.2
Dec	145.0	151.9	100.1	103.7	154.1	160.1	170.9	179.7	108.8	114.6	174.4	178.6
Jan	149.9	154.2	104.9	108.5	155.6	163.8	176.9	186.7	108.8	121.7	164.4	164.0
Feb*	139.9	148.2	104.9	106.2	145.1	158.9	165.7	179.8	108.3	121.6	154.8	148.9
Mar	158.3		123.0		159.4		181.7		118.6		147.5
Average
Apr-Feb	137.4	146.3	98.2	104.3	148.5	156.4	158.7	174.6	114.1	117.6	147.7	153.3
Growth over the corresponding period of previous year#
Feb*	7.0	5.9	11.0	1.2	1.0	9.5	9.0	8.5	-4.1	12.3	12.5	-3.8
Apr-Feb	7.9	6.5	13.4	6.2	4.1	5.3	8.5	10.0	1.5	3.1	0.9	3.8
* Figures for Feb’24 are Quick Estimates.
NOTE: Indices for the months of Nov’23 and Jan’24 incorporate updated production data.
#The growth rates over corresponding period of previous year are to be interpreted considering the unusual circumstances on account of COVID 19 pandemic since March 2020

 

 

Note: The figures December 2023, January 2024 and February 2024 are provisional

The Indices are to be interpreted considering the unusual circumstances on account of COVID 19 pandemic since March 2020