Industrial production in India increased 1.7 percent year-on-year in January of 2019, following an upwardly revised 2.6 percent rise in the previous month and below market expectations of 2 percent. Production slowed for manufacturing (1.3 percent from 2.9 percent in December) and electricity, gas, steam & air conditioning supply (0.8 percent from 4.4 percent). Meanwhile, output rebounded for mining & quarrying (3.9 percent from -1 percent). Considering April to January, industrial production grew 4.4 percent, faster than 4.1 percent in the same period of the previous fiscal year. Industrial Production in India averaged 6.33 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 4.80 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 5.00 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.