Industrial output grew more than a fifth in 2022-23, compared with 35% in 2021-22, indicating that the decline reported in the previous two years due to the pandemic have been quickly offset, according to the results of the annual survey of industries released by the ministry of statistics on Monday. However, at 7.3%, the growth in gross value added (GVA) by the industry in 2022-23 was much lower than 27% reported in the previous year, reflecting reduced pricing power of industry.