The growth of India's industrial production slowed down in March, following an accelerated pace in the previous month. This was indicated by data released by the Ministry of Statistics and Programme Implementation on Friday.
In March, the year-over-year expansion of industrial output was 4.9%, lower than the 5.6% recorded in December. This deceleration was more than what economists had anticipated, who predicted this growth to taper off to 5.1%.
Examining the three primary sectors, the electricity sector registered the most growth, with an increase of 8.6%. This was then followed by the manufacturing sector that saw a 5.2% growth in output.
The main contributor to the slowdown in growth was a subdued rise in mining output, which registered a 1.2% annual rise in March, compared to an 8.1% surge in the preceding month.
Data also indicated that from April to March, there was a 5.8% expansion in industrial production when compared to the same duration in the previous year.
