Key Highlights
- Newsroom ReviewedIndia's industrial production (IIP) data for Novemeber delivered a sharp upside surprise, rising 6.7% year-on-year.
- This is the fastest growth in 25 months.
- While the headline has boosted sentiment, brokerage firms CLSA and Nomura suggest a more nuanced picture.
- They note the genuine improvement in breadth, but also point out the distortion from calendar effects and policy timing.
- CLSA views the November data as a meaningful step up from recent weakness.
