New Delhi, Jan 10 (NationPress) India's industrial growth, as shown by the Index of Industrial Production (IIP), has risen to a 6-month peak of 5.2 percent in November, an increase from 3.5 percent in October for the current financial year (2024-25), according to data published by the Ministry of Statistics on Friday.

This growth also represents a notable improvement over the industrial growth rate of 2.5 percent recorded in November 2023.

The manufacturing sector, which constitutes over three-fourths of the IIP, saw its growth rate accelerate to 5.8 percent in November 2024, up from 4.1 percent in October.

This positive trend bodes well for job creation, as the manufacturing sector is crucial in generating quality employment opportunities for young graduates from India's engineering colleges and universities.

Within the manufacturing domain, 18 out of 23 industry segments reported positive growth in November compared to November 2023.

The leading contributors for November 2024 include the Manufacture of basic metals (7.6 percent), Manufacture of electrical equipment (37.2 percent), and Manufacture of other non-metallic mineral products (12.0 percent), as stated officially.

Furthermore, the data indicated that the growth in the electricity and mining sectors of the IIP was 1.9 percent and 4.4 percent, respectively, with the electricity sector improving from 0.9 percent in October.

Classification by usage shows that production of capital goods, which includes machinery utilized in manufacturing, experienced a robust increase of 9 percent. This segment reflects genuine investment in the economy, which has a multiplier effect on job and income creation in the future.

There was also a remarkable 13.1 percent surge in the production of consumer durables such as electronics, refrigerators, and televisions during November, indicating heightened consumer demand for these products amid increasing incomes.

For the April-November period of the ongoing financial year, the industrial growth rate stands at 4.1 percent, according to official statistics.