India's Industrial Slowdown: December 2024 Production Hits Three-Month Low

India's industrial production growth in December 2024 slowed to 3.2%, the lowest in three months, due to weaker performances in mining and manufacturing sectors according to NSO data. The manufacturing output grew by 3%, down from 4.6% last year, while mining growth dropped to 2.6%.

India's industrial output growth has hit a three-month low of 3.2% as of December 2024, mainly due to underperformance in the mining and manufacturing sectors, according to official data released on Wednesday.

The National Statistical Office's data indeed paints a less favorable picture when compared to the revised November 2024 growth figure of 5%. The current pace matches the 3.2% growth documented in September and mirrors a flat trajectory from August last year.

While power output saw a significant increase to 6.2%, manufacturing only managed a 3% rise, down from 4.6% year-on-year. In contrast, consumer durables saw an 8.3% growth, while primary goods recorded a 3.8% increase, despite broader industrial slowdowns. Experts suggest external and internal factors contribute to these figures, drawing attention to the potential necessity for strategic policy shifts.