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India’s industrial growth picks up slightly to 3% in March
Apr-28-2025

India’s industrial growth measured in Index of Industrial Production (IIP) picked up to 3.0 per cent in March 2025 from 2.7 per cent in the previous month with growth in manufacturing and electricity generation. The government revised downward industrial growth figure for February 2025 to 2.7 per cent from the provisional estimate of 2.9 per cent released in the previous month. Industrial growth was 5.5 per cent in March 2024. The Quick Estimates of IIP stood at 164.8 in March 2025 against 160.0 in March 2024. In April-March period, the IIP grew 4.0 per cent, down from 5.9 per cent recorded in the year-ago period.

Manufacturing output advanced 3.0 per cent in March against 2.8 per cent in the previous month, while electricity generation grew 6.3 per cent from 3.6 per cent in February. Mining activity rose just at 0.4 per cent from 1.6 per cent a month ago. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of March 2025 stood at 156.8, 160.9 and 217.1 respectively. Within the manufacturing sector, 13 out of 23 industry groups at NIC 2 digit-level have recorded a positive growth in March 2025 over March 2024. The top three positive contributors for the month of March 2025 are - ‘Manufacture of basic metals’ (6.9 per cent), ‘Manufacture of motor vehicles, trailers and semi-trailers’ (10.3 per cent) and ‘Manufacture of electrical equipment’ (15.7 per cent). 

As per the use base classification, primary goods increased to 3.1 per cent from 2.8 per cent in February, while capital goods growth moderated to 2.4 per cent from 8.2 per cent in February. Intermediate goods jumped to 2.3 per cent from 1.0 per cent in the previous month. Infrastructure goods posted 8.8 per cent growth, higher than 6.8 per cent in February. Consumer durables output stood at 6.6 per cent, up from 3.7 per cent in the previous month. Meanwhile, consumer non-durables contracted to 4.7 per cent, while in the previous month contraction was 2.1 per cent. The indices stood at 168.2 for Primary Goods, 134.8 for Capital Goods, 173.1 for Intermediate Goods and 212.3 for Infrastructure/Construction Goods for the month of March 2025. Further, the indices for Consumer durables and Consumer non-durables stand at 138.5 and 147.9 respectively.

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