Industrial output growth slows to 4.9% in March from 5.6%

India's industrial output growth slows in March, with manufacturing at a five-month high of 5.2%.

India’s industrial output growth slowed to 4.9% in March from 5.6% in February, as per the National Statistical Office, with base effects from last March boosting the uptick as output had tanked 1.9% last year.

Mining output slid to a 19-month low growth of 1.2%, while electricity generation rose 8.6% from a 1.6% contraction in March 2023.

Manufacturing, which constitutes 77.6% of the Index of Industrial Production (IIP), grew at a five-month high pace of 5.2% in March, relative to a mild 1.5% uptick in the same month last year. Manufacturing growth for February was revised downwards to 4.9% from 5% estimated earlier.