India: Industrial Production Far Exceeds Expectations

May 12th, 2011
in econ_news

Factory Econintersect by Sanjeev Kulkarni:  India's Industrial Production (IIP) rose 7.3%  in February, surprising consensus forecast estimate 4%.  Analysts and economists alike have been expressing fears of a major economic slowdown.  The latest data allays these fears, at least temporarily.  Newer data out today shows the infrastructure sector output grew 7.4% in March from a year earlier, faster than the annual growth of 6.8% in February.  The infrastructure sector accounts for just over a quarter of country's industrial output, so early indications are that higher than expected growth may continue at least through March.

Follow up:

RBI is expected to continue its anti inflation measures and many are expecting a further rate hike.  Food price index rose 8.53% and the fuel price index climbed 13.53% in the year ended April 23, as per government data.

Although India's exports, in March  2010/11 fiscal year a rose a whopping 43.9% from previous fiscal to a record high of $245.9 billionIndia's economy remains domestic driven.

Sanjeev Kulkarni is an entrepreneur based in Pune, India. He worked for large organizations in board level position before venturing on his own. He is currently involved as an investor in health care software company and as an investor, mentor in an automation company. Very widely traveled, he has experience of working in different geographical areas with people of varying nationalities. He did his BS from Indian Institute of Technology, Delhi.

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