India’s Industrial Production Grows by 4.2% in June 2024
India’s Index of Industrial Production (IIP) recorded a growth of 4.2% in June 2024, up from 4.0% in June 2023, according to the Ministry of Statistics and Programme Implementation.
Sector Performance
The mining sector registered an index of 134.9, reflecting a 10.3% growth. The manufacturing sector recorded an index of 145.3, with a 2.6% growth. The electricity sector achieved an index of 222.8, growing by 8.6%.
Segment Analysis
| Segment | Index | Growth |
|---|---|---|
| Primary Goods | 156.0 | 6.3% |
| Capital Goods | 110.0 | 2.4% |
| Intermediate Goods | 159.0 | 3.1% |
| Infrastructure and Construction Goods | 178.4 | 4.4% |
| Consumer Durables | 126.9 | 8.6% |
| Consumer Non-Durables | 144.6 | -1.4% |
Key Industries
The manufacture of electrical equipment grew by 28.4%, basic metals by 4.9%, and motor vehicles, trailers, and semi-trailers by 4.1%.
Revisions and Future Releases
The ministry also revised the IIP indices for May and March 2024. The IIP for July 2024 will be released on September 12.
Doubts Revealed
Industrial Production -: Industrial production means making things in factories, like cars, clothes, and toys. It shows how much stuff factories are making.
4.2% -: 4.2% is a way to show how much something has increased. If you had 100 toys and now you have 104.2 toys, it means you have 4.2% more toys.
Index of Industrial Production (IIP) -: The Index of Industrial Production (IIP) is a number that shows how much factories are making. It helps us know if factories are making more or less stuff compared to before.
Mining sector -: The mining sector is about digging up things from the ground, like coal, gold, and iron. These materials are used to make other things.
Manufacturing -: Manufacturing means making things in factories. For example, making cars, clothes, and toys is called manufacturing.
Electricity -: Electricity is the power that makes lights, fans, and TVs work. It is made in power plants and sent to our homes and factories.
Primary goods -: Primary goods are basic materials like wood, metal, and oil. These are used to make other products.
Capital goods -: Capital goods are big machines and tools that factories use to make other things. For example, a big machine that makes cars is a capital good.
Consumer durables -: Consumer durables are things we buy that last a long time, like refrigerators, washing machines, and TVs.
Ministry of Statistics and Programme Implementation -: The Ministry of Statistics and Programme Implementation is a part of the Indian government. They collect and share important numbers and information about the country.