Going by government data, India’s industrial output grew 4.9% in April 2018 compared to the data from the previous year. Manufacturing sector is showing moderate pickup as expected. Earlier, a survey of economists by Reuters had predicted the output growth of 5.2% as compared to 4.6% year-over-year increase in March. India’s manufacturing sector contributes 78% of industrial output and growing gradually as domestic demand picked up.
The Indian economy grew 7.7% year-on-year in January-March, its quickest pace in nearly two years driven by higher growth in manufacturing, the farm sector, construction sector and beat China’s growth rate of 6.8% during the same period.