The country’s industrial output growth in March is estimated to have been around 15 per cent, brightening the prospect of a return to the days of high growth as companies begin expanding capacities to meet higher demand.
“The IIP growth in March will be good and should be around 15 per cent,” Commerce Minister Anand Sharma said on the sidelines of a Confederation of Indian Industry (CII) function.
In February, too, the IIP growth was 15 per cent, marginally lower than 16 per cent and 17.6 per cent in January and December respectively.
A strong growth in manufacturing besides a low base has helped push IIP figures for February.
At the function, Sharma invited the Japanese business community to come forward and embrace the growth potential of the Indian economy by investing in the Delhi-Mumbai Industrial Corridor (DMIC).