Agence France-PresseMarch 12, 2013 05:00
India's industrial output grew by a surprise 2.4 percent in January, data showed Tuesday, suggesting that Asia's third-largest economy may be on track for a modest recovery.
The increase in January output at India's factories, mines and utilities was more than double analyst expectations of a one-percent increase, after production shrank for two straight months.
"We are on a recovery path, but that recovery will be very slow. There will be no sharp uptick," Siddhartha Sanyal, Barclays Capital's chief India economist, told AFP, a view echoed by other economists.