India's industrial production is expected to stay muted in the near term, owing to weak exports, rural distress, credit constraints and uncertainty over the election outcome, a report said Monday. According to Dun and Bradstreet's (D&B) latest Economy Forecast, the Index of Industrial Production (IIP) is likely to have grown by 3-3.2 per cent during February 2019. As per the IIP data in January released by the Central Statistics Office (CSO), the growth in industrial production declined to 1.7 per cent as against 7.5 per cent a year ago, owing to subdued performance of the manufacturing sector, especially capital and consumer goods. "Given the headwinds in the global economy and domestic structural bottlenecks, the concerns to growth remain heightened," said Arun Singh, lead economist, Dun & Bradstreet India. Singh further noted that in the short term, the risks remain accentuated as the concerns on the global front are growing while, domestically, the uncertainty on the ...
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