India's IIP in December 2023 India's IIP in December 2023 India's IIP in December 2023 India's index of industrial production (IIP) grew by 3.8 per cent in December 2023, higher than in November. Manufacturing output, which accounts for 78 per cent of total production, advanced by 3.9 per cent, accelerating from a 1.2 per cent gain. On the other hand, output eased for mining (5.1 per cent vs 7 per cent) and electricity (1.2 per cent vs 5.8 per cent). Considering the April-December period, industrial production rose by 6.1 per cent.
In November, the IIP growth had declined to 2.4 per cent from 11.7 per cent in October, according to government data. The industrial production growth decelerated mainly due to poor showing by the manufacturing sector.
The factory output growth measured in terms of the Index of Industrial Production (IIP) was 7.6 per cent in November 2022. The previous low of IIP growth was recorded at 1.9 per cent growth in March 2023. The IIP growth at 2.4 per cent in November is the lowest so far in the current fiscal.