NEW DELHI: India's industrial output growth, as measured by the Index of Industrial Production (IIP), slowed to 3.8% in January this year from 4.2% in December 2023 owing to poor show by the manufacturing sector. The data also shows that the December IIP was revised upwards to 4.2% following a revision of core sector growth to 4.9% from 3.8%. These sectors constitute 40% of the IIP and serve as a key indicator to industrial growth trends. In January 2023, industrial output had grown 5.8%. According to Aditi Nayar, chief economist of ICRA, the IIP growth is likely to remain at 3-4% in February.

Source: Indian Express March 13, 2024 07:35 UTC