| Key Aspect | Details |
|---|---|
| Event/Highlight | India's industrial sector grew only 0.4% in October, the slowest in 14 months. |
| Source | Ministry of Statistics and Programme Implementation (MoSPI). |
| Comparison | October 2023: 3.7% vs. October 2024: 0.4%. September 2024: 4% (revised). |
| Weak Areas | Manufacturing weakened; mining and electricity production fell. |
| Reasons for Weak Growth | Lower domestic demand, uncertain global conditions, specific industry problems, fewer working days due to festivals, delayed withdrawal of rains. |
| Manufacturing Sector | Grew 1.8% (78% of IIP); down from 5.6% in September and 4.4% last year. |
| Mining Sector | Fell by 1.8% (vs. -0.4% in September and +0.9% last year). |
| Electricity Sector | Declined by 6.9% (vs. +3.1% in September and +2% last year). |
| Use-Based Categories (Growth) | Capital goods: +2.4%, Intermediate goods: +0.9%, Infrastructure/Construction goods: +7.9%. |
| Use-Based Categories (Decline) | Primary goods: -0.6%, Consumer non-durables: -4.4%. |
| Economic Context | GST collections showed strong consumption, but IIP reflected slow production. |
| Economist's Insight | N.R. Bhanumurthy noted fewer working days affected production. |
| Future Expectations | Q3 (Oct-Dec) crucial; GST system and reduced income-tax rates may boost growth. |
| GDP Context | India reported 8.2% GDP growth for July-September 2024. |
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