A sharp contraction in India's industrial output in March reinforces the slowdown trend in the country, a deputy Reserve Bank of India governor said on Friday.
A sharp contraction in India's industrial output in March reinforces the slowdown trend in the country, a deputy Reserve Bank of India governor said on Friday.
Watch expert comments on March IIP data here
The moderating inflation was a result of the growth slowdown, Subir Gokarn said.
India's industrial output unexpectedly contracted 3.5 per cent in March from a year earlier, government data showed on Friday.
Annual economic growth probably dropped from a near 8.5 per cent to sub-7 per cent in the 2011-12 fiscal year, which many consider to be the new trend growth rate for Asia's third-largest economy.
Copyright: Thomson Reuters 2012
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