Daijiworld Media Network – New Delhi

New Delhi, Apr 29: India’s industrial growth moderated slightly to 4.1 per cent year-on-year in March from 5.1 per cent in February, with official data indicating resilience despite disruptions linked to tensions in West Asia.

Data released by the Ministry of Statistics and Programme Implementation showed growth in the Index of Industrial Production (IIP) slowed to a five-month low, though the figure was seen as stronger than some expectations.

Economists said the data suggests only a partial impact of geopolitical disruptions has so far filtered into industrial output, while warning the deeper effects may emerge in the coming months.

Dipti Deshpande, Principal Economist at Crisil, said the March numbers reflect only “part of the shock”, with uncertainty and weak producer sentiment yet to fully show up in production data.

She said the larger impact could become visible in the first quarter of the current fiscal.

The data comes amid concerns over global supply disruptions and rising input costs linked to instability in West Asia, though India’s industrial sector has so far shown relative resilience.