India’s industrial production growth rate rose to 6.7% in November compared to the previous year, rebounding from a slowdown in October attributed to the festive season. The manufacturing sector led the surge with an 8% increase, driven by strong performances in basic metals, pharmaceuticals, and motor vehicles.
The mining sector also saw growth at 5.4%, boosted by the end of the monsoon season and increased production of metallic minerals like iron ore. However, the electricity sector experienced a decline of -1.5% during the same month.
In November, 20 out of 23 industry groups within the manufacturing sector reported positive growth. Key contributors included the manufacturing of basic metals (10.2%), pharmaceuticals (10.5%), and motor vehicles (11.9%).
The production of capital goods, essential for factory operations, surged by 10.4% year-on-year, indicating increased real investment with potential job and income creation. Consumer durables, including appliances like refrigerators and TVs, grew by 10.3%, while non-durable goods like soaps and processed foods saw a 7.3% increase.
The infrastructure and construction sector recorded a robust 12.1% growth in November, driven by significant government projects in highways, railways, and ports.
