New Delhi: India's industrial output grew 1.4 per cent in April as against a decline of 0.75 per cent in March, in what analysts said can be taken as early signs of recovery.
Data on index of industrial production (IIP) released by the commerce ministry on Friday showed that the growth also came after two successive months of decline and was led mainly by a 7.1 per cent increase in electricity generation.
The manufacturing output, which has the maximum weight of nearly 80 per cent in the general index, continued to register a poor growth, expanding by a mere 0.7 per cent in April, against a growth of 6.7 per cent in the like month of last year.
The mining index, the other major sub-index, logged a 3.8 per cent growth against 6.1 per cent in April last year.
Another sign of a broad-based recovery is that 11 out of 17 industry groups have shown growth during April, led by 31.1 per cent wood and related products, 12.6 per cent for wool, silk and manmade textiles and 10.2 per cent for non-metallic mineral products.
Curiously, though, while consumer non-durables output grew 16.9 per cent, consumer durables registered a decline of 10.4.
"In coming months, industrial production is likely to continue to show signs of improvement," said Nikhilesh Bhattacharyya, associate economist with Moody's Economy.com, commenting on the industrial production data.
The government's focus on infrastructure projects, recovering business confidence, accommodating monetary policy of the central the recent rebound in commodity prices will help stimulate production, Bhattacharyya added.
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