In May of this year, India’s industrial production grew by 5.9%, primarily driven by strong performances in the mining and power sectors, as per official data released on Friday. The Index of Industrial Production (IIP) showed a growth of 5.7% in May 2023. According to an official statement, India’s Index of Industrial Production increased by 5.9% in May 2024. Data from the National Statistical Office (NSO) revealed that the manufacturing sector’s output slowed to 4.6% in May 2024, down from 6.3% in the same month last year. In May 2024, mining production went up by 6.6% and power output increased by 13.7%. For the April-May period of this fiscal year, the IIP grew by 5.4%, compared to 5.1% in the same period last year.
India’s Industrial Production Surges by 5.9% in May, Driven by Mining and Power Sectors
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