5.9% growth in Nov IIP unexpected, but maintain cautionary stance

Indranil Pan, Chief Economist at Kotak Mahindra Bank and Gaurav Kapur, Senior Economist at RBS spoke to NDTV Profit on 5.9 per cent growth in November industrial production. While both expressed surprise at the better than expected figures, they prefer to take a cautionary stance looking forward. "If you were to average it out on a 3 month basis, you would still see numbers showing continuing to show slowdown in growth," said Gaurav Kapur.