India Industrial Production Growth At 8-Month High

(RTTNews) - India's industrial production expanded at a faster-than-expected pace in April to reach its highest level in eight months, mainly driven by the power and mining sectors, preliminary data from the statistics ministry showed on Friday.

Industrial production climbed 7.1 percent year-on-year in April, much faster than the revised 2.2 percent rise in the previous month.

That was also above economists' forecast for growth of 5.1 percent.

Further, the latest increase was the fastest since August 2021, when production had grown 11.6 percent.

Among sectors, electricity output grew the most, by 11.8 percent, annually in April, and mining production registered an increase of 7.8 percent. Manufacturing output also advanced at a sharp pace of 6.3 percent. During the 12-month period from 1 April 2021 to 31 March 2022, industrial production expanded 11.4 percent compared to an 8.4 percent decline in the same period last year.