India's Industrial Production Growth Slows to 4.8% in July

India's industrial production growth decelerated to 4.8% in July 2024, primarily due to underperformance in the mining and manufacturing sectors. Official data from the National Statistical Office (NSO) revealed a slowdown compared to a 6.2% growth rate in July 2023. Mining production rose 3.7%, and power output increased 7.9% for the same month.

India's industrial production growth slowed to 4.8% in July this year, largely due to lackluster performances in the mining and manufacturing sectors, according to data released by the National Statistical Office (NSO) on Thursday.

The Index of Industrial Production (IIP) witnessed a notable decline from the 6.2% growth recorded in July 2023.

In July 2024, the manufacturing sector's output saw a modest growth of 4.6%, down from 5.3% the previous year. Meanwhile, mining production rose by 3.7%, and power output increased by 7.9% for the same period.

(With inputs from agencies.)