India's industrial production grows 3.8% in December

Industrial production in India based on the Index of Industrial Production (IIP) expanded 3.8 per cent in December 2023, against 2.4 per cent in the previous month and 5.1 per cent in December 2022, provisional figures released on Monday showed.

Data released by the National Statistical Office (NSO) showed that IIP grew 6.1 per cent during the April-December 2023 period against a growth of 5.5 per cent in the comparable period a year ago.

Manufacturing output grew 3.9 per cent year-on-year in December 2023 against the 3.6 per cent growth recorded in December 2022.

Output in the mining sector declined to 5.1 per cent in December 2023 against the 6.8 per cent growth in the previous month and 10.1 per cent in the year-ago period.

Power generation declined by 1.2 per cent in December 2023 against the 5.8 per cent growth recorded in the previous month.

Capital goods production increased by 7.8 per cent in December 2023 against the 3.2 per cent decline in December 2022.

Production of consumer durables grew 4.8 per cent in December 2023 compared to a decline of 11.2 per cent in December 2022.

 Production of consumer non-durables declined by 2.1 per cent in December 2023 against the 7.9 per cent expansion in December 2022.

Output in the infrastructure and construction sector was up 4.1 per cent in December 2023, against the 11 per cent growth recorded in December 2022.

Primary goods production increased by 4.6 per cent in December 2023 against a growth of 8.5 per cent in December 2022 while the growth of production in the intermediate goods sector remained unchanged at the previous month’s level of 3.5 per cent.