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India's industrial production picks up in March in possible positive sign for economy

MUMBAI, India – India says its industrial production for March grew at a faster pace after a slowdown the previous month.

The new figures offered some good news for Asia’s third-largest economy amid worries over stalling economic growth.

The country’s statistics office said Friday that March industrial output was 2.5 per cent higher than a year earlier. It grew 0.6 per cent in February.

Manufacturing growth of 3.2 per cent led the improvement.

But growth in industrial production for India’s fiscal year that ended March 31 was just 1 per cent, reflecting the broader economic slowdown.

The government has forecast economic growth of 5 per cent for the fiscal year, the lowest in a decade.