India’s industrial production rises by 5.7% in February 2024, quick estimates reveal
India’s Index of Industrial Production (IIP) showed a growth of 5.7% in February 2024, according to the quick estimates released by the government. The IIP, based on the 2011-12 base year, stood at 147.2 for the month. These estimates are typically released on the 12th of every month, with a six-week lag, and are compiled with data received from source agencies, which collect information from factories and establishments.
In terms of use-based classification, the indices for primary goods, capital goods, intermediate goods, and infrastructure and construction goods were 148.2, 106.2, 158.9, and 179.8 respectively for February 2024. The indices for consumer durables and consumer non-durables stood at 121.6 and 148.9 respectively for the same month.
Detailed estimates of the Index of Industrial Production for February 2024 at the sectoral and 2-digit level of the National Industrial Classification (NIC-2008), as well as by use-based classification, are provided in Statements I, II, and III respectively. Statement IV provides month-wise indices for the last 12 months, categorized by industry groups and sectors, to help users understand the changes in the industrial sector.
Additionally, along with the quick estimates for February 2024, the indices for January 2024 underwent the first revision, and those for November 2023 underwent the final revision based on updated data from source agencies. These revisions were compiled at weighted response rates of 93%, 95%, and 96% respectively.
