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Home News News and Press Release Month 7 2024 2024 (7) This

India's IIP records a growth of 5.9% in the May 2024

12-7-2024
  • Contents

QUICK ESTIMATE OF INDEX OF INDUSTRIAL PRODUCTION AND USE-BASED INDEX FOR THE MONTH OF MAY 2024

(BASE 2011-12=100)

The Quick Estimates of Index of Industrial Production (IIP) are released on 12th of every month (or previous working day if 12th 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. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

Key Highlights:

Indices

(i)  For the month of May 2024, the Quick Estimates of IIP with base 2011-12 stands at 154.2 against 145.6 in May 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of May 2024 stand at 136.5, 149.7 and 229.3 respectively.

(ii) As per Use-based classification, the indices stand at 160.9 for Primary Goods, 105.2 for Capital Goods, 160.8 for Intermediate Goods and 185.1 for Infrastructure/ Construction Goods for the month of May 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 129.8 and 153.3 respectively for the month of May 2024.

Growth Rate (Y-o-Y)

(i) The IIP growth rate for the month of May 2024 over the corresponding period of previous year is 5.9 percent. The IIP growth rate in May 2023 was 5.7 percent. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of May 2024 over May 2023 are 6.6 percent, 4.6 percent and 13.7 percent respectively. Within the manufacturing sector, the growth rate of the top three positive contributors to the growth of IIP for the month of May 2024 are – “Manufacture of basic metals” (7.8%), “Manufacture of pharmaceuticals, medicinal chemical and botanical products” (7.5%), and “Manufacture of electrical equipment” (14.7%).

(ii) The corresponding growth rates of IIP as per Use-based classification in May 2024 over May 2023 are 7.3 percent in Primary goods, 2.5 percent in Capital goods, 2.5 percent in Intermediate goods, 6.9 percent in Infrastructure/ Construction Goods, 12.3 percent in Consumer durables and 2.3 percent in Consumer non-durables (Statement III).  Based on use-based classification, top three positive contributors to the growth of IIP for the month of May 2024 are – Primary goods, Consumer durables and Infrastructure/Construction goods.

 (iii) Monthly Indices and Growth Rate (in %) of IIP for the last 13 months

3.  Along with the Quick Estimates of IIP for the month of May 2024, the indices for April 2024 have undergone the first revision and those for February 2024 have undergone final revision in the light of the updated data received from the source agencies. The Quick Estimates for May 2024, the first revision for April 2024 and the final revision for February 2024 have been compiled at weighted response rates of 91 percent, 94 percent and 96 percent respectively.

4. Details of Quick Estimates of the Index of Industrial Production for the month of May 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.

5. Release of the Index for June 2024 will be on Monday, 12th August 2024.

Note: -

  1. This Press release (English and Hindi Version) is also available at the Ministry’s Website -http://www.mospi.gov.in.
  2. Detailed information pertaining to IIP is available at https://mospi.gov.in/iip

STATEMENT I: INDEX OF INDUSTRIAL PRODUCTION - SECTORAL

(Base: 2011-12=100)

Month

Mining

Manufacturing

Electricity

General

(14.372472)

(77.63321)

(7.994318)

(100)

2023-24

2024-25

2023-24

2024-25

2023-24

2024-25

2023-24

2024-25

Apr

122.6

130.9

138.8

144.2

192.3

212.0

140.7

147.7

May*

128.1

136.5

143.1

149.7

201.6

229.3

145.6

154.2

Jun

122.3

 

141.6

 

205.2

 

143.9

 

Jul

111.9

 

142.1

 

204.0

 

142.7

 

Aug

111.9

 

144.4

 

220.5

 

145.8

 

Sep

111.5

 

141.5

 

205.9

 

142.3

 

Oct

127.4

 

142.1

 

203.8

 

144.9

 

Nov

131.3

 

139.3

 

176.3

 

141.1

 

Dec

139.5

 

151.6

 

181.6

 

152.3

 

Jan

144.3

 

150.8

 

197.1

 

153.6

 

Feb

139.7

 

144.4

 

187.2

 

147.1

 

Mar

156.2

 

156.0

 

204.2

 

159.9

 

Average

               

Apr-May

125.4

133.7

141.0

147.0

197.0

220.7

143.2

151.0

Growth over the corresponding period of previous year#

     

Apr

5.1

6.8

5.5

3.9

-1.1

10.2

4.6

5.0

May*

6.4

6.6

6.3

4.6

0.9

13.7

5.7

5.9

Apr-May

5.8

6.6

5.9

4.3

-0.1

12.0

5.1

5.4

 

* Figures for May 2024 are Quick Estimates.

NOTE: Indices for the months of Feb'24 and Apr'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

 

  STATEMENT II:  INDEX OF INDUSTRIAL PRODUCTION - (2-DIGIT LEVEL)

 

(Base: 2011-12=100)

 

Industry

Description

Weight

Index

Cumulative Index

Percentage growth#

code

 

 

May'23

May'24*

Apr-May*

May'24*

Apr-May*

 

 

 

 

 

2023-24

2024-25

 

2024-25

10

Manufacture of food products

5.3025

123.2

116.4

130.5

118.3

-5.5

-9.3

11

Manufacture of beverages

1.0354

124.1

134.2

116.7

128.0

8.1

9.7

12

Manufacture of tobacco products

0.7985

83.7

87.8

75.4

74.5

4.9

-1.2

13

Manufacture of textiles

3.2913

107.4

106.7

106.5

105.6

-0.7

-0.8

14

Manufacture of wearing apparel

1.3225

112.2

123.2

102.2

114.2

9.8

11.7

15

Manufacture of leather and related products

0.5021

101.1

102.4

99.4

95.9

1.3

-3.5

16

Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials

0.1930

98.7

99.5

94.1

91.9

0.8

-2.3

17

Manufacture of paper and paper products

0.8724

77.9

81.9

78.9

79.1

5.1

0.3

18

Printing and reproduction of recorded media

0.6798

88.7

86.2

88.7

85.0

-2.8

-4.2

19

Manufacture of coke and refined petroleum products

11.7749

138.0

140.7

133.6

138.1

2.0

3.4

20

Manufacture of chemicals and chemical products

7.8730

133.8

133.1

130.2

130.4

-0.5

0.2

21

Manufacture of pharmaceuticals, medicinal chemical and botanical products

4.9810

227.9

245.0

232.5

244.6

7.5

5.2

22

Manufacture of rubber and plastics products

2.4222

112.7

111.7

109.5

109.9

-0.9

0.4

23

Manufacture of other non-metallic mineral products

4.0853

148.4

148.7

147.6

148.4

0.2

0.5

24

Manufacture of basic metals

12.8043

206.3

222.4

204.1

220.6

7.8

8.1

25

Manufacture of fabricated metal products, except machinery and equipment

2.6549

87.1

97.8

81.8

91.0

12.3

11.2

26

Manufacture of computer, electronic and optical products

1.5704

115.1

138.2

113.3

126.2

20.1

11.4

27

Manufacture of electrical equipment

2.9983

106.6

122.3

106.6

116.2

14.7

9.0

28

Manufacture of machinery and equipment n.e.c.

4.7653

116.2

118.2

112.0

113.1

1.7

1.0

29

Manufacture of motor vehicles, trailers and semi-trailers

4.8573

126.1

133.9

119.5

130.1

6.2

8.9

30

Manufacture of other transport equipment

1.7763

131.2

153.2

125.4

146.8

16.8

17.1

31

Manufacture of furniture

0.1311

179.9

221.6

162.3

215.5

23.2

32.8

32

Other manufacturing

0.9415

79.2

72.4

83.5

84.8

-8.6

1.6

 

 

 

           

05

Mining

14.3725

128.1

136.5

125.4

133.7

6.6

6.6

10-32

Manufacturing

77.6332

143.1

149.7

141.0

147.0

4.6

4.3

35

Electricity

7.9943

201.6

229.3

197.0

220.7

13.7

12.0

 

 

 

           

 

General Index

100.00

145.6

154.2

143.2

151.0

5.9

5.4

                   

* Figures for May’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)

 

2023-24

2024-25

2023-24

2024-25

2023-24

2024-25

2022-23

2024-25

2023-24

2024-25

2023-24

2024-25

Apr

142.2

152.2

92.4

94.9

152.0

156.9

169.8

183.4

108.1

118.9

154.7

150.9

May*

149.9

160.9

102.6

105.2

156.9

160.8

173.2

185.1

115.6

129.8

149.8

153.3

Jun

146.7

 

107.4

 

154.2

 

170.9

 

116.8

 

146.7

 

Jul

141.8

 

102.1

 

153.8

 

170.3

 

117.0

 

153.5

 

Aug

145.4

 

107.4

 

157.4

 

176.8

 

123.2

 

148.3

 

Sep

138.8

 

112.6

 

154.2

 

172.8

 

125.0

 

142.6

 

Oct

146.1

 

106.1

 

157.5

 

175.9

 

123.0

 

142.4

 

Nov

143.8

 

98.0

 

151.3

 

164.2

 

106.5

 

157.2

 

Dec

151.9

 

103.8

 

159.8

 

180.3

 

114.5

 

179.7

 

Jan

154.3

 

108.3

 

163.8

 

186.6

 

121.4

 

164.9

 

Feb

148.2

 

106.7

 

157.6

 

179.5

 

121.9

 

149.9

 

Mar

163.1

 

131.1

 

168.2

 

195.2

 

129.9

 

155.3

 

Average

 

 

 

 

 

 

 

 

 

 

 

 

Apr-May

146.1

156.6

97.5

100.1

154.5

158.9

171.5

184.3

111.9

124.4

152.3

152.1

Growth over the corresponding period of previous year#

 

 

 

 

 

 

 

Apr

1.9

7.0

4.4

2.7

1.7

3.2

13.4

8.0

-2.3

10.0

11.4

-2.5

May*

3.6

7.3

8.1

2.5

3.4

2.5

13.0

6.9

1.5

12.3

8.9

2.3

Apr-May

2.8

7.2

6.3

2.7

2.6

2.8

13.2

7.5

-0.4

11.2

10.2

-0.1

                               
 

 

* Figures for May 2024 are Quick Estimates.

NOTE: Indices for the months of Feb'24 and Apr'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

 

STATEMENT IV:  MONTHLY INDEX OF INDUSTRIAL PRODUCTION - (2-DIGIT LEVEL)

(Base: 2011-12=100)

Industry code

Description

Weight

Jun-23

Jul-23

Aug-23

Sep-23

Oct-23

Nov-23

Dec-23

Jan-24

Feb-24

Mar-24

Apr-24

May-24

10

Manufacture of food products

5.3025

113.6

121.6

123.9

114.6

123.5

141.5

160.8

158.9

151.9

142.5

120.2

116.4

11

Manufacture of beverages

1.0354

125.0

109.4

103.4

101.6

99.6

100.7

101.3

112.6

120.0

124.3

121.8

134.2

12

Manufacture of tobacco products

0.7985

93.8

71.8

81.4

89.8

82.7

79.8

82.7

84.6

77.3

78.4

61.1

87.8

13

Manufacture of textiles

3.2913

107.8

108.5

107.1

108.4

110.2

102.7

112.3

109.7

104.1

106.5

104.4

106.7

14

Manufacture of wearing apparel

1.3225

120.1

103.9

97.8

102.4

97.8

92.9

113.1

117.3

125.6

143.2

105.1

123.2

15

Manufacture of leather and related products

0.5021

103.4

95.1

92.4

91.8

91.1

78.8

95.9

99.9

96.8

95.9

89.3

102.4

16

Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials

0.1930

98.0

98.4

98.5

108.1

93.7

87.6

97.7

96.4

101.7

111.5

84.3

99.5

17

Manufacture of paper and paper products

0.8724

81.3

82.1

82.3

78.5

78.5

73.3

78.1

79.1

79.2

83.2

76.2

81.9

18

Printing and reproduction of recorded media

0.6798

88.7

89.0

91.0

87.5

87.0

84.1

95.5

91.3

88.8

92.3

83.8

86.2

19

Manufacture of coke and refined petroleum products

11.7749

133.5

131.9

131.7

122.4

125.7

132.9

141.9

134.7

131.2

142.4

135.4

140.7

20

Manufacture of chemicals and chemical products

7.8730

130.5

128.6

126.8

123.6

126.5

119.5

127.5

127.6

125.4

130.3

127.6

133.1

21

Manufacture of pharmaceuticals, medicinal chemical and botanical products

4.9810

225.3

244.5

225.9

220.1

212.8

244.3

286.3

245.6

205.6

228.1

244.2

245.0

22

Manufacture of rubber and plastics products

2.4222

106.5

107.7

108.5

106.5

109.0

105.1

106.9

112.8

110.3

116.8

108.1

111.7

23

Manufacture of other non-metallic mineral products

4.0853

149.5

134.0

142.5

132.8

140.5

127.0

147.1

147.5

147.7

165.4

148.0

148.7

24

Manufacture of basic metals

12.8043

203.4

209.4

217.4

213.6

217.2

207.3

220.2

226.9

213.2

232.1

218.8

222.4

25

Manufacture of fabricated metal products, except machinery and equipment

2.6549

86.7

83.8

100.0

97.1

92.8

81.0

98.1

95.1

95.7

114.8

84.2

97.8

26

Manufacture of computer, electronic and optical products

1.5704

121.9

118.6

131.4

149.4

123.1

96.7

111.6

120.8

125.8

134.7

114.2

138.2

27

Manufacture of electrical equipment

2.9983

103.5

102.5

108.6

108.0

94.8

89.0

116.6

108.1

111.5

124.3

110.1

122.3

28

Manufacture of machinery and equipment n.e.c.

4.7653

123.7

119.9

126.3

127.0

123.3

109.1

115.5

116.4

121.0

145.1

108.0

118.2

29

Manufacture of motor vehicles, trailers and semi-trailers

4.8573

123.6

129.5

128.6

130.5

135.7

126.7

118.5

140.5

130.4

130.3

126.2

133.9

30

Manufacture of other transport equipment

1.7763

140.6

123.5

145.9

166.0

157.2

144.5

137.2

149.5

145.8

175.7

140.3

153.2

31

Manufacture of furniture

0.1311

183.0

190.6

189.5

185.1

176.8

144.5

197.4

199.0

227.7

278.6

209.4

221.6

32

Other manufacturing

0.9415

85.6

97.1

94.6

96.7

103.7

65.8

70.5

76.6

76.4

90.0

97.1

72.4

 

 

 

                       

5

Mining

14.3725

122.3

111.9

111.9

111.5

127.4

131.3

139.5

144.3

139.7

156.2

130.9

136.5

10-32

Manufacturing

77.6332

141.6

142.1

144.4

141.5

142.1

139.3

151.6

150.8

144.4

156.0

144.2

149.7

35

Electricity

7.9943

205.2

204.0

220.5

205.9

203.8

176.3

181.6

197.1

187.2

204.2

212.0

229.3

 

 

 

                       

 

General Index

100

143.9

142.7

145.8

142.3

144.9

141.1

152.3

153.6

147.1

159.9

147.7

154.2

* Figures for May’24 are Quick Estimates.

NOTE: Indices for the months of Feb'24 and Apr'24 incorporate updated production data.

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