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 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. 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, 12^th August 2024.

Note: -

This Press release (English and Hindi Version) is also available at the Ministry’s Website -http://www.mospi.gov.in.
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