India's industrial production contracts 0.1 per cent in August 2024

India's Index of Industrial Production (IIP) contracted by 0.1 per cent in August on an annual basis, following a 4.7 per cent growth in July. Mining, manufacturing, and electricity sectors saw mixed results, with mining and electricity contracting while manufacturing grew slightly. Heavy rainfall is likely to have impacted the mining sector. Various use-based sectors also experienced different growth rates.