India’s industrial production increased 3.0% YoY in March, up from 2.7% YoY in February but slightly below expectations of 3.3% YoY.

• Manufacturing production was also 3.0% YoY, up from 2.8% YoY previously.
• Mining production increased 0.4% YoY, and electricity production was up 6.3% YoY.
• By type of good, construction goods and consumer durables production rates were up the most, up 8.8% YoY and 6.6% YoY respectively.
• Consumer non-durables production saw the only decline at -4.7% YoY due to weak food production.
• Basic metal production, India’s largest production industry, was up 6.9% YoY. Food production saw one of the largest declines, down -8.0% YoY.