Demonstrating that India's growth is on track, official data showed on March 10 that India's industrial output grew by 8.3% in January. Output grew by 7.5% in the same month a year earlier, the Central Statistical Organization (CSO) said in an official statement. The January rise compares with 5% growth in December 2005.
Manufacturing output which accounts for over 75% of industrial production, rose 9.2% in January with economists confident it could sustain eight to nine percent growth in coming months. India's economy has been growing at around eight percent this financial year, making it the second fastest expanding after China's. The federal government expects the economy to grow by 8.1% for the full year to March 31.
Economists said key sectors like automobiles, metals, cement, textiles and food products posted year-on-year growth of between 9% - 18% in January.
Electricity sector growth improved to 5.8% in January from 2.4% in same month of 2005. The mining sector, however, lagged, growing by 0.2% after rising 2.6% a year earlier.
Copyright Agence France-Presse, 2006