In July, industrial production increased 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 1.8% drop recorded in June but undershot market expectations of a 0.5% rise. The monthly result primarily reflected how a decline in both the manufacturing and the mining sectors was more than offset by an expansion in electricity output. On a use-based classification, the monthly figure was mostly the result of an increase in basic and consumer goods, which more than compensated for a decline in both intermediate and capital goods production. As a result of the weak growth in July, the trend continues to point downwards, with annual average growth in industrial production falling from 1.3% in June to 1.0%. CF Industry. The Central Bank anticipates GDP growth reaching 7.3% this fiscal year, which will end in March 2013, while the government sees the economy expanding 7.6%.
Industrial production virtually flat in July
September 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.