Index of Industrial Production Growth Rate for March 2024 Stands at 4.9%

For the month of March 2024, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 159.2. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of March 2024 stand at 156.1, 155.1 and 204.2 respectively. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.
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.
The IIP growth rates for the month of March 2024 over the corresponding period of previous year is 4.9 percent. The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of March 2024 over March 2023 are 1.2 percent, 5.2 percent and 8.6 percent respectively. Within the manufacturing sector, the growth rate of the top three positive contributors to the growth of IIP for the month of March 2024 are – “Manufacture of basic metals” (7.7%), “Manufacture of pharmaceuticals, medicinal chemical and botanical products” (16.7%), and “Manufacture of other transport equipment” (25.4%).
The cumulative growth rate for the period of April-March 2023-24 over the corresponding period of the previous year stands at 5.8 percent. The cumulative growth rates of the three sectors, Mining, Manufacturing and Electricity for the period of April-March 2023-24 over the corresponding period of the previous year are 7.5 percent, 5.5 percent and 7.1 percent respectively.
As per Use-based classification, the indices stand at 162.2 for Primary Goods, 130.5 for Capital Goods, 167.5 for Intermediate Goods and 194.2 for Infrastructure/ Construction Goods for the month of March 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 129.9 and 154.7 respectively for the month of March 2024.
The corresponding growth rates of IIP as per Use-based classification in March 2024 over March 2023 are 2.5 percent in Primary goods, 6.1 percent in Capital goods, 5.1 percent in Intermediate goods, 6.9 percent in Infrastructure/ Construction Goods, 9.5 percent in Consumer durables and 4.9 percent in Consumer non-durables (Statement III). 
Details of Quick Estimates of the Index of Industrial Production for the month of March 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 March 2024, the indices for February 2024 have undergone the first revision and those for December 2023 have undergone final revision in the light of the updated data received from the source agencies. The Quick Estimates for March 2024, the first revision for February 2024 and the final revision for December 2023 have been compiled at weighted response rates of 93 percent, 95 percent and 96 percent respectively.
Note:

Press release is also available at the Website of the Ministry - http://www.mospi.gov.in
Press release in Hindi follows and shall be available at:

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







STATEMENT I: INDEX OF INDUSTRIAL PRODUCTION - SECTORAL




(Base: 2011-12=100)








Month


Mining


Manufacturing


Electricity


General




(14.372472)


(77.63321)


(7.994318)


(100)




2022-23


2023-24


2022-23


2023-24


2022-23


2023-24


2022-23


2023-24




Apr


116.6


122.6


131.6


138.8


194.5


192.3


134.5


140.7




May


120.4


128.1


134.6


143.1


199.9


201.6


137.8


145.6




Jun


113.7


122.3


136.8


141.6


196.9


205.2


138.3


143.9




Jul


101.1


111.9


135.0


142.1


188.9


204.0


134.4


142.7




Aug


99.6


111.9


131.3


144.4


191.3


220.5


131.5


145.8




Sep


100.0


111.5


134.6


141.5


187.4


205.9


133.8


142.3




Oct


112.6


127.4


128.5


142.1


169.3


203.8


129.5


144.9




Nov


122.7


131.3


137.5


139.3


166.7


176.3


137.7


141.1




Dec


132.6


139.5


144.9


151.6


179.4


181.6


145.9


152.3




Jan


136.1


144.1


145.5


150.7


186.6


197.1


147.4


153.5




Feb


129.2


139.7


137.6


144.3


174.0


187.1


139.3


147.1




Mar*


154.2


156.1


147.5


155.1


188.0


204.2


151.7


159.2




Average

 
 
 
 
 
 
 
 



 

 
 
 
 
 
 
 
 



Apr-Mar


119.9


128.9


137.1


144.6


185.2


198.3


138.5


146.6




 

 
 
 
 
 
 
 
 



Growth over the corresponding period of previous year #

 
 
 
 



 

 
 
 
 
 
 
 
 



Mar*


6.8


1.2


1.5


5.2


-1.6


8.6


1.9


4.9




 

 
 
 
 
 
 
 
 



Apr-Mar


5.8


7.5


4.7


5.5


8.9


7.1


5.2


5.8




 

 
 

 


 


 


 


 


 




 




* Figures for Mar’24 are Quick Estimates.




NOTE: Indices for the months of Dec'23 and Feb'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
code


Description


Weight


Index


Cumulative Index


Percentage growth  #




 


 


Mar'23


Mar'24*


Apr-Mar*


Mar'24*


Apr-Mar*




 


 


 


 


 


2022-23


2023-24


 


2023-24




10


Manufacture of food products


5.3025


147.2


141.5


132.4


134.2


-3.9


1.4




11


Manufacture of beverages


1.0354


123.5


124.0


105.5


110.9


0.4


5.1




12


Manufacture of tobacco products


0.7985


95.5


78.4


88.4


81.2


-17.9


-8.1




13


Manufacture of textiles


3.2913


110.2


109.3


107.5


108.0


-0.8


0.5




14


Manufacture of wearing apparel


1.3225


133.1


143.1


127.9


109.8


7.5


-14.2




15


Manufacture of leather and related products


0.5021


106.2


95.3


96.0


94.9


-10.3


-1.1




16


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


0.1930


108.1


111.5


104.5


98.3


3.1


-5.9




17


Manufacture of paper and paper products


0.8724


83.1


83.2


82.4


79.4


0.1


-3.6




18


Printing and reproduction of recorded media


0.6798


91.7


93.2


90.6


89.5


1.6


-1.2




19


Manufacture of coke and refined petroleum products


11.7749


141.1


139.6


128.0


132.7


-1.1


3.7




20


Manufacture of chemicals and chemical products


7.8730


130.1


129.7


129.3


127.1


-0.3


-1.7




21


Manufacture of pharmaceuticals, medicinal chemical and botanical products


4.9810


194.7


227.3


216.2


233.4


16.7


8.0




22


Manufacture of rubber and plastics products


2.4222


110.2


116.6


104.5


109.1


5.8


4.4




23


Manufacture of other non-metallic mineral products


4.0853


152.8


164.6


135.3


144.3


7.7


6.7




24


Manufacture of basic metals


12.8043


214.0


230.5


191.9


213.9


7.7


11.5




25


Manufacture of fabricated metal products, except machinery and equipment


2.6549


95.4


114.8


85.3


92.5


20.3


8.4




26


Manufacture of computer, electronic and optical products


1.5704


134.1


132.7


137.2


121.6


-1.0


-11.4




27


Manufacture of electrical equipment


2.9983


108.7


123.9


99.3


106.7


14.0


7.5




28


Manufacture of machinery and equipment n.e.c.


4.7653


141.3


144.9


113.5


120.8


2.5


6.4




29


Manufacture of motor vehicles, trailers and semi-trailers


4.8573


122.4


130.5


114.5


127.8


6.6


11.6




30


Manufacture of other transport equipment


1.7763


139.2


174.5


127.0


144.6


25.4


13.9




31


Manufacture of furniture


0.1311


210.9


276.3


204.1


190.0


31.0


-6.9




32


Other manufacturing


0.9415


108.5


89.9


90.9


85.3


-17.1


-6.2




 


 

 
 
 
 
 
 
 



05


Mining


14.3725


154.2


156.1


119.9


128.9


1.2


7.5




10-32


Manufacturing


77.6332


147.5


155.1


137.1


144.6


5.2


5.5




35


Electricity


7.9943


188.0


204.2


185.2


198.3


8.6


7.1




 


 

 
 
 
 
 
 
 



 


General Index


100.00


151.7


159.2


138.5


146.6


4.9


5.8




* Figures for Mar’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


103.8


154.1


159.8


170.9


180.3


108.8


114.5


174.4


179.7




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


106.0


145.1


157.7


165.7


179.8


108.3


121.7


154.8


149.4




Mar*


158.3


162.2


123.0


130.5


159.4


167.5


181.7


194.2


118.6


129.9


147.5


154.7




Average

 
 
 
 
 
 
 
 
 
 
 
 



 

 
 
 
 
 
 
 
 
 
 
 
 



Apr-Mar


139.2


147.6


100.3


106.5


149.4


157.2


160.7


176.2


114.5


118.6


147.7


153.6




 

 
 
 
 
 
 
 
 
 
 
 
 



Growth over the corresponding period of previous year #

 
 
 
 
 
 



 

 
 
 
 
 
 
 
 
 
 
 
 



Mar*


3.3


2.5


10.0


6.1


1.8


5.1


7.2


6.9


-8.0


9.5


-1.9


4.9




 

 
 
 
 
 
 
 
 
 
 
 
 



Apr-Mar