India industrial growth slows to 6.7% in September

India’s industrial production growth slowed to 6.7% year on year in September, down from 8% in August, as a sharp contraction in mining and quarrying weighed on the overall index, according to data released by the Ministry of Statistics and Programme Implementation. The Index of Industrial Production (IIP) showed mining and quarrying output fell 6.2% from a year earlier. Manufacturing expanded 7.6%, while electricity and gas supply grew 11.2%. The figures indicate that growth continued across two major sectors even as the mining decline pulled down the headline rate. Manufacturing growth also eased from 8.6% in August. The September release reported increases in several manufacturing groups, including electrical equipment, up 33.9%; rubber and plastics products, up 19.9%; and motor vehicles, trailers and semi-trailers, up 19%. Seventeen of the 23 manufacturing industry groups recorded year-on-year growth, according to the release. Other reported indicators showed intermediate goods output rose 12.2% and capital goods production increased 10.4% in September. Infrastructure and construction goods grew 7.2%, and consumer durables rose 6%. Consumer non-durables increased 1.4%,...