As per the Central Statistics Office data, India’s industrial production rose 2.7% in January after the demonetisation.
The growth was incomplete because of the base result as output shrunk to 1.59% in January 2016. It was better than the 0.38% reduction in December 2016, however, protected the 5.65% development posted in November 2016.
Pankaj Patel, President of the industry body FICCI stated that the manufacturing development, however positive in January, remains delicate and a reason for concern. As per him, manufacturing sector may see reinforcement in the pending months as a result of actions taken in the budget and other areas.
Manufacturing segment contributing for a slight over 75% of the total Index of Industrial Production Mining sector also witnessed 5.3% growth in January while compare to 1.54% in January 2016.
Overall nine industry groups among twenty two industry groups have shown the positive growth in the manufacturing sector.