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IIP growth slows to 2.9% in February on weak manufacturing
Apr-11-2025

India's industrial output growth, measured by the Index of Industrial Production (IIP), slowed to a seven-month low of 2.9 per cent in February 2025, compared to a 5.2 per cent surge in January 2025 amid slowdown in mining, manufacturing and electricity growth. The government revised upward industrial growth figure for January 2025 to 5.2 per cent from the provisional estimate of 5.0 per cent released in the previous month. The factory output rose by 5.6 per cent in February 2024. In April-February period, the IIP grew 4.1 per cent, down from 6 per cent recorded in the year-ago period.

The manufacturing sector's output slowed to 2.9 per cent in February 2025 as against 4.9 per cent in the year-ago period. Mining production grew just 1.6 per cent when compared to 8.1 per cent in February 2024 and electricity output stood at 3.6 per cent in the said month, lower compared to 7.6 per cent in corresponding month of last year. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of February 2025 stood at 141.9, 148.6 and 194.0 respectively. Within the manufacturing sector, 14 out of 23 industry groups at NIC 2 digit-level have recorded a positive growth in February 2025 over February 2024. The top three positive contributors for the month of February 2025 are - ‘Manufacture of basic metals’ (5.8%), ‘Manufacture of motor vehicles, trailers and semi-trailers’ (8.9%) and ‘Manufacture of other non-metallic mineral products’ (8.0%).

As per the use base classification, primary goods declined to 2.8 per cent down from 5.5 per cent Month-on-Month (M-o-M), while capital goods growth moderated to 8.2 per cent from 10.3 per cent in January. Intermediate goods fell to 1.5 per cent, lower than 5.3 per cent in the previous month. Infrastructure goods posted 6.6 per cent growth, slightly lower than 7.4 per cent M-o-M. Consumer durables output stood at 3.8 per cent, down from 7.2 per cent in the previous month. Meanwhile, consumer non-durables contracted to 2.1 per cent, while in the previous month contraction was 0.3 per cent. The indices stood at 152.3 for Primary Goods, 115.5 for Capital Goods, 159.9 for Intermediate Goods and 191.3 for Infrastructure/ Construction Goods for the month of February 2025. Further, the indices for Consumer durables and Consumer non-durables stood at 126.5 and 146.7 respectively.
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