India's industrial production rate plunges to 1.7% in January

The growth rate of India's factory production slowed massively in January 2019 to 1.7 per cent, from 7.5 per cent reported for the corresponding month of 2018, official data showed on Tuesday.

Even, on a month-on-month basis, the Index of Industrial Production (IIP) declined during the month under review from December 2018 when it stood at 2.60 per cent.

"The cumulative growth for the period April-January 2018-19 over the corresponding period of the previous year stands at 4.4 percent," the Central Statistics Office (CSO) said in a statement on Tuesday.
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