India’s Industrial Output Shows Positive Growth in December 2023

New Delhi: The Quick Estimates of the Index of Industrial Production (IIP) for December 2023 have been released, indicating a positive trend in the country’s industrial output. The IIP, based on the 2011-12 base, stands at 151.5 for the mentioned month, with indices for the Mining, Manufacturing, and Electricity sectors at 139.4, 150.6, and 181.6, respectively.

The Use-based classification reveals indices of 151.7 for Primary Goods, 103.3 for Capital Goods, 159.3 for Intermediate Goods, and 177.9 for Infrastructure/Construction Goods in December 2023. Additionally, Consumer durables and Consumer non-durables show indices of 114.0 and 178.0, respectively, for the same period.

The Quick Estimates are subject to revision in subsequent releases, following the revision policy of IIP. These estimates provide a snapshot of industrial performance, and detailed sectoral and classification-wise breakdowns are available for analysis.

For a comprehensive understanding of changes in the industrial sector, monthly indices for the last 12 months are presented in Statement IV. This information is categorized by industry groups (2-digit NIC-2008 level) and sectors, aiding users in tracking trends over time.

In conjunction with the Quick Estimates for December 2023, the indices for November 2023 have undergone the first revision, while those for September 2023 have completed the final revision. These revisions are based on updated data received from source agencies, ensuring accuracy in depicting the industrial landscape.

The compiled data reflects weighted response rates of 93 percent for the Quick Estimates of December 2023, 94 percent for the first revision of November 2023, and 95 percent for the final revision of September 2023. These estimates play a crucial role in gauging the health of India’s industrial sector, contributing to informed decision-making and policy formulation.