India’s industrial production saw a 5.1% growth in May compared to the previous year, driven by a strong performance in the manufacturing sector and a surge in electricity & gas supply. The manufacturing sector, which contributes significantly to industrial production, recorded a notable 5.5% growth in May. This sector plays a crucial role in providing quality employment opportunities to graduates.
The manufacturing sector witnessed positive growth in 16 out of 23 industry groups in May. Notable contributors to this growth include the manufacture of motor vehicles (14.5% growth), electrical equipment (20.8%), and basic metals (4.6%). Additionally, the electricity and gas supply sector experienced a 9.9% increase, while water supply, sewerage & waste management grew by 5.5%.
On the other hand, the mining sector showed a negative growth of (-) 1.6% in May. The production of capital goods, essential for factory operations, surged by 12.9% during the month, reflecting real investments in the economy with positive implications for job creation and income generation. Consumer durables production, including electronic goods and appliances, increased by 7.2% in April.
The infrastructure and construction goods sector also posted a growth of 5.9% in May, supported by significant government investments in infrastructure projects. The Ministry of Statistics and Programme Implementation has transitioned to using the Output Producer Price Index as a deflator, replacing the Wholesale Price Index for specific item groups in the Industrial Production Index.
