India’s industrial production exhibited a promising growth of 5.7% in July 2023, as revealed by official data released on Wednesday. This performance is measured using the Quick Estimates of the Index of Industrial Production (IIP), with a base year of 2011-12, standing at 142.0 for the month of July 2023.
Breaking down the data further, the Indices of Industrial Production for key sectors in July 2023 were as follows:
- Mining: 111.9
- Manufacturing: 141.2
- Electricity: 204.0
It’s important to note that these Quick Estimates may undergo revision in subsequent releases, following the revision policy of the IIP.
When categorized based on use, the indices for July 2023 were as follows:
- Primary Goods: 141.7
- Capital Goods: 101.6
- Intermediate Goods: 151.8
- Infrastructure/Construction Goods: 168.5
- Consumer Durables: 118.1
- Consumer Non-Durables: 152.2
For a more detailed breakdown, you can refer to Statements I, II, and III, which provide information on sectoral, 2-digit level of National Industrial Classification (NIC-2008), and use-based classification.
To gain insight into trends in the industrial sector, Statement IV offers month-wise indices for the last 12 months, categorized by industry groups (2-digit level of NIC-2008) and sectors.
Furthermore, alongside the Quick Estimates for July 2023, the indices for June 2023 have undergone the first revision, and those for April 2023 have undergone their final revision, incorporating updated data received from source agencies. The Quick Estimates for July 2023, first revision for June 2023, and final revision for April 2023 have been compiled at weighted response rates of 92%, 94%, and 95%, respectively.
It’s noteworthy that the Quick Estimates of the Index of Industrial Production (IIP) are regularly released on the 12th of each month, with a six-week lag in data collection and compilation. These estimates are based on data received from source agencies, which, in turn, gather information from the producing factories and establishments.