India January Industrial Output Up 5% on Year

MT Newswires Live
03-13

Lifted by output of basic metals and electrical equipment, India's index of industrial production rose 5.0% on year in January, accelerating from the 3.2% on-year growth logged in December, reported the National Statistics Office (NSO) on Wednesday

By major sector, India's mining output in January grew by 4.4% on year, and that of manufacturing by 5.5%, and electricity by 2.4%.

Of 23 industrial sub-sectors measured, 19 expanded on year in January, reported the NSO.

In India, the output of basic metals, a large sub-sector, rose 6.3% on year in January, while production of coke and refined petroleum products rose 8.5% on year.

The manufacture of electrical equipment rose 21.7% on year in January, while output of certain types of transport equipment rose 20.4% on year, added the NSO.

Measured by end-use, the output of primary goods rose 5.5% on year in January, while that of capital goods rose 7.8%.

There was a 5.2% rise in the production of intermediate goods, and a 7% on-year boost in the output of infrastructure-construction goods in the month.

India's output of consumer durables rose 7.2% on year in January while production of non-durables fell a modest 0.2%, reported the NSO.

The outlook for India's industrial sector is generally good, if recent government economic forecasts are on target.

At a policy meeting in February, the Reserve Bank of India forecast India's gross domestic product (GDP) would expand by 6.7% on year in fiscal 2025-6, starting April 1.

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