New Delhi, March 12 (IANS). India’s industrial growth rate based on the Industrial Production Index (IIP) has reached 5 percent in January, which was 3.2 percent in December. This information was obtained from the data released by the Ministry of Statistics on Wednesday.
Statistics show that the manufacturing sector, which provides quality jobs to young graduates from universities and engineering institutions in the country, has registered a 5.5 percent increase in January. This was 3.6 percent in the same period last year.
In January 2024, mining production increased by 4.4 percent during the month compared to 6 percent and only 2.4 percent increase in power generation during the month.
Of the 23 industry groups in the manufacturing sector, 19 have recorded a positive growth in January 2025 compared to January 2024. Manufacturing basic metal in the top three positive contributors in January 2025 has increased by 6.3 percent, 8.5 percent in manufacturing of coke and refined petroleum products and 21.7 percent in manufacturing of electrical devices.
In manufacturing of industry group coke and refined petroleum products, items such as diesel, petrol and LPG have contributed significantly to the growth.
Us-based classification figures suggest that the production of capital goods, which includes machines used in factories, increased by 7.8 percent in January.
This section reflects the actual investment in the economy, which has a multiplier effect on the creation of jobs and income in future.
The production of consumer durables such as electronic goods, refrigerators and TVs during November also increased by 7.2 percent, which shows high consumer demand for these items amid increasing income.
The industrial growth rate slowed down in December after 5.2 percent reached a 6 -month high in November, but it saw an increase in January.
-IANS
ABS/ABM
