India's electricity demand shows biggest drop in the least 12 years as economy slows
Updated : November 12, 2019 09:35 AM IST
India's power demand fell 13.2 percent in October from a year ago, posting its steepest monthly decline in over 12 years, government data showed, reflecting a deepening growth slowdown in Asia's third-largest economy.
India needs electricity to fuel its expanding economy but a third decline in power consumption in as many months points to tapering industrial activity in the nation that aims to become a $5 trillion economy by 2024.
Its fuel demand growth — also seen by economists as an indicator of economic activity — is on track for the slowest pace in six years.