India's industrial production jumped 8.21 per cent in October from a year earlier, official data released on Wednesday showed.

The factory output, as gauged by the IIP (Index of Industrial Production), beat market expectations, and swung back to a sixteen- month high.

The impressive jump in the industrial production growth rate was due to strong performance of the manufacturing, power sector and higher output of consumer as well as capital goods.

Union Finance Minister P Chidambaram expressed happiness on the industrial growth figure, and said, "I am very encouraged by the indications of the green shoots in economy in terms of production."

In October last year, industrial production growth had contracted by 5 per cent from the corresponding period of previous year.

The sequential IIP growth rate was also remarkable. On a month-on-month basis, the index jumped 5.01 per cent, from 163.1 points in September to 171.3 points in October.

However, growth of industrial production in the April to October period the current financial year was just 1.2 per cent, considerably lower than 3.6 per cent in the corresponding period of the previous financial year.