India's Index of Industrial Production grows by 5.7% in Feb 2024

New Delhi: The quick estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 147.2 for the month of February 2024. IIP are released on 12th of every month with a six weeks lag and compiled with data received from source agencies, which in turn receive the data from the producing factories/ establishments.

The indices of industrial production for the mining, manufacturing and electricity sectors for the month of February 2024 stand at 139.6, 144.5 and 187.1 respectively. These quick estimates will undergo revision in subsequent releases as per the revision policy of IIP.

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As per use-based classification, the indices stand at 148.2 for primary goods, 106.2 for capital goods, 158.9 for intermediate goods and 179.8 for infrastructure and construction goods for the month of February 2024. Further, the indices for consumer durables and consumer non-durables stand at 121.6 and 148.9 respectively for the month of February 2024.

The details of quick estimates of the Index of industrial production for the month of February 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.

Along with the quick estimates of IIP for the month of February 2024, the indices for January 2024 have undergone the first revision and those for November 2023 have undergone final revision in the light of the updated data received from the source agencies. The Quick Estimates for February 2024, the first revision for January 2024 and the final revision for November 2023 have been compiled at weighted response rates of 93 percent, 95 percent and 96 percent respectively.

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