BUSINESS

India's Industrial Output Rises 2.7 Per Cent In January In Sharp Rebound From December

Economists surveyed by Reuters had forecast a 0.5 percent growth

10/03/2017 6:10 PM IST | Updated 10/03/2017 7:16 PM IST
Rupak De Chowdhuri / Reuters

India's industrial output rose 2.7 percent in January from a year ago, according to the latest government data, showing a sharp rebound from the previous month.

The cumulative growth for April-January 2016-17 stood at 0.6 percent over the previous year. In December, India posted a decline 0.4 per cent.

Economists surveyed by Reuters had forecast a 0.5 percent growth in output compared with a revised 0.1 percent year-on-year fall in December.

The indices of industrial production (IIP) for mining, manufacturing and electricity sectors grew at 5.3 per cent, 2.3 percent and 3.9 percent compared to January 2016.

Sectors that showed high positive growth in January include 'Cable, Rubber Insulated' (282.8%), 'Fruit Pulp' (121.5%), 'Vitamins' (46.9%),'Telephone Instruments including Mobile Phones and accessories' (31.7%), and 'Antibiotics and it's preparations' (25.9%).

While sectors that contracted include 'HR Sheets' (-39.6%), 'Ship Building and Repairs' (-31.9%), 'sugar' (-28.2%), 'PVC Pipes and Tubes' (-27.0%), 'Leather Garments' (-24.3%) and 'Three-Wheelers (-24.3%).

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In the April to January period, food products and beverages was among the worst farers overall, falling by -14.8 per cent, worsening from -5.0 per cent in the same period last year. Office, accounting and computing machinery also contracted at -16.0 per cent compared to -10.7 per cent negative growth last year.

With inputs from Reuters.

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