In January, industrial growth has reached an 8-month high of 5%. A year ago, in January 2024, it was 4.2%. At the same time, industrial production grew by 3.2% in December 2024. Industrial growth has increased due to the good performance of the manufacturing sector. Manufacturing contributes more than three-fourths to IIP. The output of India’s manufacturing sector grew by 5.5% in January, while it was 3.6% in the same month last year. At the same time, the production of the mining sector saw a growth of 4.4% in January, which was 6.0% in the same period last year. The electricity sector grew by 2.4% in January. In the same month last year, it registered a growth of 5.6%. Sector wise industrial growth in January compared to December: What is Index of Industrial Production (IIP)? As the name suggests, the production data of industries is called industrial production. Three major sectors are included in it. First is manufacturing, that is, what is produced in industries, such as vehicles, clothes, steel, cement etc. Second is mining, from which coal and minerals are obtained. Third is utilities, that is, things used by the general public. Such as roads, dams and bridges. Whatever all these produce together is called industrial production. How is it measured? The unit for measuring industrial production in IIP is Index of Industrial Production. For this, the base year has been fixed as 2011-12. That is, whatever increase or decrease in the production of industries now as compared to 2011-12 is called IIP. 77.63% of this entire IIP comes from the manufacturing sector. Apart from this, the production of these eight major industries – electricity, steel, refinery, crude oil, coal, cement, natural gas and fertilizer – has a direct impact on IIP.
