In April, industrial production expanded 0.1% over the same month last year, according to the so-called quick estimate for the index of industrial production (IIP). The reading contrasted the revised 3.2% decline recorded in March (previously reported: -3.5% year-on-year) but came in below market expectations of a 1.0% rise. The April figure primarily reflected near zero growth in the manufacturing sector, which accounts for over three quarters of total industrial output. On a use-based classification, the monthly reading mainly reflected how an increase in basic goods and consumer goods production was almost entirely offset by declining output in capital and intermediate goods. As a result of the weak monthly result, the trend continues to point downwards, with annual average growth in industrial production falling from 3.0% in March to 2.6%. The government expects GDP to grow 7.6% this fiscal year, which will end on March 2013.
Industrial production comes to a virtual halt
June 11, 2012
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India Industry Chart
Note: Year-on-year and annual average variation of industrial production index in %.
Source: Ministry of Statistics and Programme Implementation (MOSPI) and FocusEconomics calculations.
India Economic News
October 17, 2016
Recently-released data related to India’s external sector showed that the trade deficit totaled USD 8.3 billion in September, which was a smaller shortfall than the USD 10.2 billion gap recorded in September 2015 (August 2016: USD 7.7 billion deficit).
October 15, 2016
In September, consumer prices fell 0.23% from the previous month, which followed August’s flat growth.
October 12, 2016
The fall in industrial production moderated in August, after recording the largest contraction since November 2015 in July.
October 5, 2016
Activity in India’s manufacturing sector lost steam in September.
October 4, 2016
The newly facelifted Reserve Bank of India (RBI) decided to ease monetary policy at a scheduled meeting on 4 October, cutting the repurchase rate from 6.50% to 6.25%—an over five-year low.