Industrial production rises to a four-month high of 5.7% in February

The Index of Industrial Production (IIP) in India rose 5.7 per cent in February as against 3.8 per cent in January, revealed the data provided by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday. IIP in December 2023 was recorded at 4.2 per cent.

The factory output measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 6 per cent in February 2023.

The previous high of IIP was recorded at 11.9 per cent in October 2023, which slowed to 2.5 per cent in November, 4.2 per cent in December and 4.1 per cent in January 2024.


Meanwhile, power generation grew by 7.5 per cent YoY against a rise in January by 6.9 per cent.

In February this year, mining production rose 8 per cent, and power output increased 7.5 per cent.

The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output grew 5 per cent in February 2024, down from 5.9 per cent in the year-ago month.

As per use-base classification, the capital goods segment growth fell to 1.2 per cent in February 2024 compared to 11 per cent in the year-ago period.

In February this year, consumer durables output expanded 12.3 per cent. It had contracted by 4.1 per cent in February 2023.

Consumer non-durable goods output declined by 3.8 per cent during the month compared to a 12.5 per cent expansion in February 2023.

According to the data, infrastructure/construction goods reported a growth of 8.5 in February 2024 against a 9 per cent expansion in the year-ago period.

The data also showed that the output of primary goods logged 5.9 per cent growth in February this year, down from 7 per cent a year ago.

The expansion in the intermediate goods segment was 9.5 per cent in the month under review, higher than the 1 per cent recorded in the same period a year ago.

The IIP grew 5.9 per cent during April 2023-February 2024 compared to a 5.6 per cent expansion in the year-ago period.