Mining, power sectors propel IIP up 5.9% in May

New Delhi: India’s industrial production grew to a seven-month high of 5.9 per cent in May 2024, mainly due to good showing by power and mining sectors, according to official data released on Friday. The factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5 per cent in April, 5.4 per cent in March, 5.6 per cent in February and 4.2 per cent in January 2024.

The IIP was 4.4 per cent in December and 2.5 per cent in November 2023. The previous high of IIP was recorded at 11.9 per cent in October 2023. During the April-May period this fiscal, the IIP growth was 5.4 per cent against 5.1 per cent in the preceding financial year. India’s Index of Industrial Production grew by 5.7 per cent in May 2023, according to a statement by the Ministry of Statistics & Programme Implementation.

As per the data, the mining output growth accelerated to 6.6 per cent in May against a 6.4 per cent expansion in the year-ago month. The manufacturing sector’s growth decelerated to 4.6 per cent in May compared to 6.3 per cent a year ago. The power generation increased by an impressive 13.7 per cent in May against a flat growth of 0.9 per cent the same month of the last year.