Tuesday, 02 January 2024 12:17 GMT

India’s Industrial Output Expands 4.8 Percent Year-on-Year in January


(MENAFN) India’s industrial output expanded 4.8% year-on-year in January, according to data released Monday by the federal Ministry of Statistics and Programme Implementation. The figure marks a notable slowdown from December’s 7.8% growth.

The ministry reported that the three major sectors—Mining, Manufacturing, and Electricity—registered growth rates of 4.3%, 4.8%, and 5.1% respectively. Manufacturing and electricity provided the strongest support to overall output, though gains were weaker than the previous month.

Within manufacturing, several industries stood out as key drivers. The ministry highlighted "Manufacture of basic metals" with a 13.2% increase, "Manufacture of motor vehicles, trailers and semi-trailers" rising 10.9%, and "Manufacture of other non-metallic mineral products" advancing 9.9%.

The latest figures underscore a cooling in momentum for Asia’s third-largest economy, with January’s performance reflecting slower expansion despite solid contributions from select industrial segments.

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