India's Industrial Output Grows 3.5% in October

India's industrial output production rose 3.5 per cent in October 2024 up from 3.1 per cent in the previous month, industry data released today said.

The manufacturing output of the country rose 4.1 per cent year-on-year in October 2024. Additionally electricity generation grew by 2 per cent and mining activities were up by 0.9 per cent, according to data from the Index of Industrial Production (IIP). These sectors had grown by 10.6 per cent, 20.4 per cent and 13.1 per cent, respectively.

In the April-October period, the IIP grew 4 per cent down from 7 per cent in the year-ago period. However, the October IIP was significantly low from the same month, last year when it had hit 11.9 per cent.

Sectors like mining, manufacturing as well as electricity have contributed to this growth and their respective indices for October 2024 were 128.5, 147.9, and 207.8.

Electrical equipment and petroleum products have seen growth in production driven by specific items. Petrol, aviation fuel and LPG have contributed significantly to the growth of industrial output especially in refined petroleum products.