📷 Image Credits: The Economic Times
India’s industrial production has seen significant growth in May 2024, reaching a seven-month high of 5.9%. This increase, as reported by the Ministry of Statistics and Programme Implementation, marks a positive trend in the country’s manufacturing and production sectors.
The Index of Industrial Production (IIP) has shown steady improvement, with a growth rate of 5.9% in May, up from 5% in April. This upswing indicates a positive trajectory for India’s industrial landscape and economic strength.
In comparison to previous months, the factory output growth of 5.7% in May 2023 has shown a slight increase, reflecting a continuous upward trend in production and manufacturing activities. The data also highlights the growth in different sectors, such as power and mining, contributing to the overall industrial output.
The latest figures indicate a promising outlook for India’s industrial sector, showcasing resilience and growth potential. The surge in electricity output, mining activities, and manufacturing production underscores the diverse and robust nature of the country’s industrial landscape. With a growth rate of 5.9% year-over-year, India’s industrial production is on a positive trajectory, providing a significant boost to the economy and signaling optimism for the future.
