India Industrial Growth Falls to 4.2% in June from 6.2% in May

13 Aug 2024 , 07:38 AM

India’s industrial production fell to a five-month low of 4.2% in June from a seven-month high of 6.2% a month ago. The industrial growth was 4.0% in June last year.

The decline in industrial growth is mainly on account of a sharp deceleration in manufacturing output. The growth in manufacturing, which accounts for more than three-fourth of the total weight of Index of Industrial production, moderated to 2.6% in June from 5.0% a month ago.

The lower growth in industrial production is not surprising as eight core industries, which account for over 40% of the total weight of the Index of Industrial Production, had fallen to a 20-month low of 4.0% in June.

In Apr-Jun, the first quarter of 2024-25, industrial production grew 5.2% compared with 4.7% a year ago.