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The Index of Industrial Production, or IIP, is a key indicator of India’s monthly activity levels.
Growth in India's industrial output decelerated to 3.8 percent in January, according to data released by the Ministry of Statistics and Programme Implementation on March 12.
At 3.8 percent, the latest industrial growth figure as per the Index of Industrial Production (IIP) is unchanged from the December 2023 figure of 3.8 percent. That number was on March 12 revised higher to 4.2 percent by the statistics ministry.
In January 2023, India's industrial output had grown by 5.8 percent.
Meanwhile, for April 2023-Januaru 2024, industrial growth stood at 5.9 percent as against 5.5 percent in April 2022-January 2023.
The latest IIP growth print is below expectations. A Moneycontrol survey had shown economists expected industrial production to increase by 4.2 percent year-on-year in January.