NEW DELHI, MARCH 12   :    India’s factory output measured in terms of Index of Industrial Production (IIP) grew 3.8% year-on-year in the month of January 2024, as per official data released on Tuesday.

As per data published by Ministry of Statistics & Programme Implementation (MoSPI), electricity sector growth stood at 5.6% in January this year. While mining sector registered a growth of 5.9% in January this year, manufacturing sector grew at 3.2%.

Commenting on January IIP numbers, ICRA Chief Economist Aditi Nayar said that the growth expectedly eased during this period entirely led by a deceleration in the growth of manufacturing.

“Based on the available high frequency data for February 2024 as well as an unfavourable base (+6.0% in February 2023), ICRA anticipates the YoY IIP growth to remain at 3-4% in that month,” she said.
As per the official data, IIP recorded 5.9% growth in April-January period of current financial year 2023-24.(UNI)