India's Industrial Production Experiences Significant Slowdown

India's industrial production growth decelerates to 3.2% in December 2024, primarily due to mining and manufacturing setbacks. November's IIP figure was revised from 5.2% to 5%. The power sector showed some positivity with 6.2% growth, contrasting with the declining performance across other areas.

India's industrial production growth has slowed to 3.2% in December 2024, with mining and manufacturing sectors underperforming, as revealed by official data on Wednesday.

The government revised the November 2024 Index of Industrial Production (IIP) figure to 5% from the provisional 5.2%.

The manufacturing sector's output increased by 3%, a decline from the previous year's 4.6%, while power output experienced a surge, marking a 6.2% increase compared to last year's 1.2%.