India Industrial production January 2021


India: Industrial output declines in January

March 12, 2021

Industrial output declined 1.6% compared to the same month of the previous year in January, which contrasted December's 1.6% increase. The reading was partly driven by a deterioration in manufacturing production. In contrast, mining output contracted at a softer pace.

Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 11.3% in January, down from December's minus 10.9%.

FocusEconomics panelists expect industrial production to rise 11.9% in FY 2021, which is unchanged from last month’s projection. In FY 2022, the panel expects industrial output to expand 5.0%.

Author:, Economist

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India Industrial production Chart

India Industry January 2021 0

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Ministry of Statistics and Programme Implementation (MOSPI) and FocusEconomics calculations.

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