According to the Quick Estimates of the Index of Industrial Production (IIP) for July 2023, calculated with a base year of 2011-12 and released by the Ministry of Statistics and Programme Implementation, the Government of India recorded a value of 142.0.
The IIP data is typically published on the 12th of each month, with a six-week delay, and is compiled using information gathered from the Central Statistical Office and the Department of Industrial Policy and Promotion.
The Index of Industrial Production serves as a significant economic gauge, measuring the growth of various sectors within the Indian economy, including mining, manufacturing, and electricity generation. When we examine the IIP based on usage categories, the growth rates for primary goods, capital goods, intermediate goods, infrastructure/construction goods, and consumer durables stand at 1.6%, 2.9%, 1.3%, 2.1%, and 3.5%, respectively. However, there has been a 0.2% decline in the production of consumer non-durable goods for the month of July 2023.
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