Quick Estimate of Industrial Production Index and Use-Based Index for August 2024

The Quick Estimates of Index of Industrial Production (IIP) are released on 12^th of every month (or previous working day if 12^th is a holiday) with a six weeks lag and compiled with data received from source agencies, which in turn receive the data from the producing factories/ establishments. These Quick Estimates will undergo revision in subsequent releases as per the revision policy of IIP.

2. Key Highlights:

1.  The IIP growth rate for the month of August 2024 is (-)0.1 percent which was 4.7% in the month of July 2024.
2.  The growth rates of the three sectors, Mining, Manufacturing and Electricity for the month of August 2024 are (-)4.3 percent, 1.0 percent and (-)3.7 percent respectively. It is likely that the decline in the growth of Mining sector is due to heavy rainfall in the month of August 2024.
3.  The Quick Estimates of IIP stands at 145.6 against 145.8 in August 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of August 2024 stand at 107.1, 145.9 and 212.3 respectively.
4.  Within the manufacturing sector, top three positive contributors for the month of August 2024 are – “Manufacture of basic metals” (3.0%), “Manufacture of electrical equipment” (17.7%), and “Manufacture of chemicals and chemical products” (2.7%).
5.  As per the use base classification, the indices stand at 141.6 for Primary Goods, 108.1 for Capital Goods, 162.2 for Intermediate Goods and 180.2 for Infrastructure/ Construction Goods for the month of August 2024. Further, the indices for Consumer durables and Consumer non-durables stand at 129.6 and 141.6 respectively.
6.  The corresponding growth rates of IIP as per Use-based classification in August 2024 over August 2023 are (-)2.6 percent in Primary goods, 0.7 percent in Capital goods, 3.0 percent in Intermediate goods, 1.9 percent in Infrastructure/ Construction Goods, 5.2 percent in Consumer durables and (-)4.5 percent in Consumer non-durables (Statement III).  Based on use-based classification, top three positive contributors to the growth of IIP for the month of August 2024 are –Intermediate goods, Consumer durables and Infrastructure/ Construction Goods.
7.   Monthly Indices and Growth Rate (in %) of IIP for the last 13 months

3. Along with the Quick Estimates of IIP for the month of August 2024, the indices for July 2024 have undergone the first revision and those for May 2024 have undergone final revision in the light of the updated data received from the source agencies. The Quick Estimates for August 2024, the first revision for July 2024 and the final revision for May 2024 have been compiled at weighted response rates of 92 percent, 94 percent and 96 percent respectively.

4. Details of Quick Estimates of the Index of Industrial Production for the month of August 2024 at Sectoral, 2-digit level of National Industrial Classification (NIC-2008) and by Use-based classification are given at Statements I, II and III respectively. Also, for users to appreciate the changes in the industrial sector, Statement IV provides month-wise indices for the last 12 months, by industry groups (as per 2-digit level of NIC-2008) and sectors.

5. Release of the Index for September 2024 will be on Tuesday, 12^th November 2024.

Note: –

1. This Press release (English and Hindi Version) is also available at the Ministry’s Website –http://www.mospi.gov.in.
2. Detailed information pertaining to IIP is available at https://mospi.gov.in/iip

* Figures for August 2024 are Quick Estimates.

STATEMENT III: INDEX OF INDUSTRIAL PRODUCTION – USE-BASED

(Base :2011-12=100)   Primary goods Capital goods Intermediate goods Infrastructure/ construction goods Consumer durables Consumer non-durables Month (34.048612) (8.223043) (17.221487) (12.338363) (12.839296) (15.329199) 2023-24 2024-25 2023-24 2024-25 2023-24 2024-25 2022-23 2024-25 2023-24 2024-25 2023-24 2024-25 Apr 142.2 152.2 92.4 95.0 152.0 157.8 169.8 184.2 108.1 119.5 154.7 150.9 May 149.9 160.9 102.6 105.3 156.9 162.4 173.2 186.3 115.6 130.2 149.8 154.0 Jun 146.7 156.0 107.4 111.5 154.2 158.9 170.9 183.1 116.8 127.0 146.7 144.5 Jul 141.8 150.1 102.1 114.1 153.8 163.6 170.3 178.1 117.0 126.7 153.5 146.9 Aug* 145.4 141.6 107.4 108.1 157.4 162.2 176.8 180.2 123.2 129.6 148.3 141.6 Sep 138.8 112.6 154.2 172.8 125.0 142.6 Oct 146.1 106.1 157.5 175.9 123.0 142.4 Nov 143.8 98.0 151.3 164.2 106.5 157.2 Dec 151.9 103.8 159.8 180.3 114.5 179.7 Jan 154.3 108.3 163.8 186.6 121.4 164.9 Feb 148.2 106.7 157.6 179.5 121.9 149.9 Mar 163.1 131.6 169.2 195.2 129.9 155.2 Average Apr-Aug 145.2 152.2 102.4 106.8 154.9 161.0 172.2 182.4 116.1 126.6 150.6 147.6 Growth over the corresponding period of previous year Jul 7.7 5.9 5.1 11.8 3.2 6.4 12.6 4.6 -3.6 8.3 8.3 -4.3 Aug* 12.4 -2.6 13.1 0.7 7.4 3.0 15.7 1.9 6.0 5.2 9.9 -4.5 Apr-Aug 6.1 4.8 6.7 4.3 4.2 3.9 13.6 5.9 -1.2 9.0 7.7 -2.0

* Figures for August 2024 are Quick Estimates.
NOTE: Indices for the months of Jul’24 and May’24 incorporate updated production data.
STATEMENT IV:  MONTHLY INDEX OF INDUSTRIAL PRODUCTION – (2-DIGIT LEVEL) (Base: 2011-12=100) Industry code Description Weight Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 10 Manufacture of food products 5.3025 114.6 123.5 141.5 160.8 158.9 151.9 142.4 119.8 116.4 116.4 119.7 122.0 11 Manufacture of beverages 1.0354 101.6 99.6 100.7 101.3 112.6 120.0 124.2 123.8 136.4 125.2 111.9 100.4 12 Manufacture of tobacco products 0.7985 89.8 82.7 79.8 82.7 84.6 77.3 78.3 61.1 88.1 83.6 81.2 78.1 13 Manufacture of textiles 3.2913 108.4 110.2 102.7 112.3 109.7 104.1 106.9 105.3 107.0 106.2 108.7 109.1 14 Manufacture of wearing apparel 1.3225 102.4 97.8 92.9 113.1 117.3 125.6 143.0 105.1 123.6 122.6 111.5 111.5 15 Manufacture of leather and related products 0.5021 91.8 91.1 78.8 95.9 99.9 96.8 95.9 89.3 102.6 99.4 102.1 94.3 16 Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials 0.1930 108.1 93.7 87.6 97.7 96.4 101.7 111.4 84.3 100.3 103.9 100.3 109.2 17 Manufacture of paper and paper products 0.8724 78.5 78.5 73.3 78.1 79.1 79.2 83.0 75.6 81.0 79.9 81.8 82.1 18 Printing and reproduction of recorded media 0.6798 87.5 87.0 84.1 95.5 91.3 88.8 91.6 82.1 91.9 85.4 84.7 84.5 19 Manufacture of coke and refined petroleum products 11.7749 122.4 125.7 132.9 141.9 134.7 131.2 142.4 135.4 140.7 132.4 140.9 130.8 20 Manufacture of chemicals and chemical products 7.8730 123.6 126.5 119.5 127.5 127.6 125.4 132.3 127.0 133.2 131.8 135.3 130.2 21 Manufacture of pharmaceuticals, medicinal chemical and botanical products 4.9810 220.1 212.8 244.3 286.3 245.6 205.6 228.0 244.4 245.0 218.7 224.5 212.2 22 Manufacture of rubber and plastics products 2.4222 106.5 109.0 105.1 106.9 112.8 110.3 116.3 108.9 112.4 114.6 117.0 115.0 23 Manufacture of other non-metallic mineral products 4.0853 132.8 140.5 127.0 147.1 147.5 147.7 165.4 148.7 149.1 154.1 136.5 139.4 24 Manufacture of basic metals 12.8043 213.6 217.2 207.3 220.2 226.9 213.2 232.1 220.7 225.9 217.1 220.8 223.9 25 Manufacture of fabricated metal products, except machinery and equipment 2.6549 97.1 92.8 81.0 98.1 95.1 95.7 115.0 85.0 97.8 89.8 93.6 93.5 26 Manufacture of computer, electronic and optical products 1.5704 149.4 123.1 96.7 111.6 120.8 125.8 134.7 114.2 136.5 134.7 131.0 146.7 27 Manufacture of electrical equipment 2.9983 108.0 94.8 89.0 116.6 108.1 111.5 124.7 110.4 122.7 136.4 131.8 127.8 28 Manufacture of machinery and equipment n.e.c. 4.7653 127.0 123.3 109.1 115.5 116.4 121.0 145.4 108.0 118.1 125.9 126.3 124.2 29 Manufacture of motor vehicles, trailers and semi-trailers 4.8573 130.5 135.7 126.7 118.5 140.5 130.4 130.5 126.5 134.4 128.8 133.7 129.2 30 Manufacture of other transport equipment 1.7763 166.0 157.2 144.5 137.2 149.5 145.8 175.7 140.3 153.2 153.4 155.0 156.8 31 Manufacture of furniture 0.1311 185.1 176.8 144.5 197.4 199.0 227.7 296.4 220.8 246.0 212.6 209.3 215.9 32 Other manufacturing 0.9415 96.7 103.7 65.8 70.5 76.6 76.4 90.0 96.5 72.5 74.9 83.1 86.8 5 Mining 14.3725 111.5 127.4 131.3 139.5 144.3 139.7 156.2 130.9 136.5 134.9 116.1 107.1 10-32 Manufacturing 77.6332 141.5 142.1 139.3 151.6 150.8 144.4 156.2 144.6 150.4 146.2 148.3 145.9 35 Electricity 7.9943 205.9 203.8 176.3 181.6 197.1 187.2 204.2 212.0 229.3 222.8 220.2 212.3 General Index 100 142.3 144.9 141.1 152.3 153.6 147.1 160.0 148.0 154.7 150.7 149.4 145.6

* Figures for August 2024 are Quick Estimates.

NOTE: Indices for the months of Jul’24 and May’24 incorporate updated production data.