According to government data, industrial production growth falls to 3.8% in December 2023.

In December 2022, the rise in industrial output, as determined by the Index of Industrial Production (IIP), was 5.1%. November of the previous year saw 2.4% growth in IIP. IIP growth reached 6.1% between April and December of this fiscal year, up from 5.5% during the same time the previous year. India's Index of Industrial Production is expected to increase by 3.8% in December 2023, according to a report from the Ministry of Statistics & Programme Implementation.
The industrial sector's output growth advanced to 3.9% in December 2023 from 3.6% in the previous year, according to the most recent figures. Nonetheless, the growth in power generation decreased to 1.2% in December 2023 from 10.4% in the same month last year. Additionally, the rise in mining output decreased to 5.1% in the reviewed month from 10.1% in the corresponding time last year.
Chief Economist Aditi Nayar of rating agency ICRA stated that the manufacturing sector's improved performance drove the IIP's year-over-year increase to 3.8% in December 2023 from 2.4% in November 2023, in contrast to the slowdown in the growth of the core sector.

"In terms of the use-based categories, only primary goods reported a sequential moderation in December 2023, with all five other categories reporting an improvement," she said. With the available high frequency data for January 2024 appearing promising Nayar said, "we anticipate a modest rise in the IIP growth to 4-6 per cent in that month."

The data also showed that the output of primary goods logged 4.6 per cent growth in December last year, down from 8.5 per cent in the year-ago period. The expansion in intermediate goods segment was 3.4 per cent in the latest month under review, higher than 1.5 per cent recorded in the same period a year ago.