India's Industrial Production Surges in May Amid Mining and Power Sector Growth

India's industrial production saw a significant increase of 5.9% in May 2024, primarily driven by strong performances in the mining and power sectors. The National Statistical Office reported a slower growth in manufacturing output at 4.6%. Overall, the IIP improved 5.4% in April-May 2024 compared to the same period last year.

India's industrial production surged by 5.9% in May 2024, thanks to robust performances in the mining and power sectors, official data revealed on Friday.

The factory output, as measured by the Index of Industrial Production (IIP), marked a growth of 5.7% in May 2023.

According to the National Statistical Office (NSO), manufacturing output growth decelerated to 4.6% in May 2024, down from 6.3% in May last year.

Mining production increased by 6.6%, and power output soared by 13.7% in May this year.

For the April-May fiscal period, the IIP grew by 5.4%, up from 5.1% during the same period last year.