State Bank of India on Wednesday said the Index of Industrial Production (IIP) is expected to grow between 8 and 9 percent for the months of February and March.

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SBI, which is the largest public sector bank in the country said the highest number of projects by value has been announced in railways, roads, electricity, non-conventional energy in the industrial sectors.

The government’s share in these projects have increased to 71 percent in current financial year compared to 46 percent in financial year 2013.

However, the private sector's share has fallen to 28 percent from 50 percent during the same period.

Foreign private sector investors have also shown considerable amount of interest in the “Indian growth story” and have increased their share of investments in the first six months of the current fiscal year, SBI said.

The SBI Composite Index, which is an indicator for manufacturing activities in the Indian economy, showed a moderate growth of 54.2 in the month of March 2018, compared to 55.0 in the previous month, in its yearly index.

First Published:Mar 28, 2018 2:37 PM IST