Factory output slows down to 3.8% in January
Poor showing by manufacturing, mining; Index of Industrial Production grew 4.2 in Dec 2023, 5.8% in Jan 2023
New Delhi: India’s industrial production growth slowed to 3.8 per cent in January 2024, mainly due to poor performance of manufacturing, mining and power sectors, according to official data released on Tuesday. The factory output growth measured in terms of the Index of Industrial Production (IIP) was 5.8 per cent in January 2023. In December 2023, IIP growth stood at 4.2 per cent. It was 2.4 per cent in November 2023. During the April-January period of this fiscal, IIP growth touched 5.9 per cent, up from 5.5 per cent in the year-ago period. “India’s Index of Industrial Production grows by 3.8 per cent in January 2024,” the Ministry of Statistics & Programme Implementation said in a release.
As per the latest data, the manufacturing sector’s output growth decelerated to 3.2 per cent in January against 4.5 per cent a year ago. The power generation growth also slowed to 5.6 per cent in January from 12.7 per cent growth in the year-ago period.
The mining output growth decelerated to 5.9 per cent in the month under review against 9 per cent.
