India's industrial production fell 0.1 percent from a year earlier in March 2019, the first month of contraction since June 2013. Manufacturing production shrank 0.4 percent, the same pace as in the previous month, while mining output rose at a softer pace (0.8 percent vs 2.2 percent). On the other hand, electricity output growth accelerated to 2.2 percent from 1.3 percent. Industrial production for 2018/19 grew at 3.6 percent, slower than 4.4 percent in the previous fiscal year. Industrial Production in India averaged 6.29 percent from 1994 until 2019, reaching an all time high of 19.90 percent in November of 2006 and a record low of -7.20 percent in February of 2009.
Industrial Production in India is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in India to stand at 4.80 in 12 months time. In the long-term, the India Industrial Production is projected to trend around 6.50 percent in 2020, according to our econometric models.