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India’s industrial growth picked up to 3 percent in March from 2.7 percent in the previous month, according to data released by the government on April 28.

The growth in the index of industrial production follows from a slight uptick in growth in infrastructure industries during the month.

Core sector, which constitutes 40 percent of weight in the IIP, had registered 3.8 percent growth in March compared with 3.4 percent in the previous month, as steel, cement and electricity generation growth had picked up.

Steel sector grew 7.1 percent in March compared with 6.9 percent in the previous month, whereas cement growth was 11.6 percent from 10.8 percent.

Electricity sector had registered 6.2 percent growth from 3.6 percent, as hot temperatures had pushed up the usage.

For the year, India’s industrial performance was disappointing at 4 percent compared with 5.9 percent in the previous month.

Consumer non-durables, a proxy for urban demand, has experienced contraction in better part of the year, even as consumer durables, reflective or rural demand, has shown better results.

Manufacturing growth has been muted this year. The government expects industry to record just over 4 percent growth in FY25 compared with 12 percent in the previous fiscal.

India’s economic growth is set to ease further to 6.2 percent, according to IMF, as tariffs and trade tensions weigh heavy on the global economy.

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