India’s industrial production rose +4.8% YoY in January 2026 (down from +7.8% YoY in December), indicating slower but still positive output growth.

• The headline IIP index reached 169.4 (Jan 2025: 161.6), reflecting continued expansion in overall industrial activity despite a moderation from the prior month.

• Sector growth was broad based with Mining +4.3% YoY, Manufacturing +4.8% YoY, and Electricity +5.1% YoY, showing contributions from all three major industrial segments.

• Within manufacturing, 14 of 23 industry groups expanded YoY, led by basic metals (+13.2%), motor vehicles and trailers (+10.9%), and other non metallic mineral products (+9.9%).

• Use based categories showed Infrastructure/Construction Goods +13.7% YoY, Intermediate Goods +6.0% YoY, Capital Goods +4.3% YoY, and Primary Goods +3.1% YoY, highlighting stronger investment related output.

• Consumer Durables increased +6.3% YoY while Consumer Non durables fell -2.7% YoY, indicating divergence between discretionary and everyday consumption goods.

• Infrastructure/Construction Goods, Intermediate Goods, and Primary Goods were identified as the top contributors to the January growth, reinforcing investment led momentum in industrial activity.

India’s Index of Industrial Production rose +7.8% YoY in December 2025 (up from +6.7% YoY in November), marking the strongest reading in over two years.

• Headline IIP increased to 170.3 from 158.0 a year earlier, indicating a broad pickup in overall industrial output.

• Manufacturing output expanded +8.1% YoY, while Mining rose +6.8% YoY and Electricity increased +6.3% YoY, showing strength across all three major sectors.

• Sector indices stood at 153.0 for Mining, 169.9 for Manufacturing, and 204.9 for Electricity, reflecting elevated activity levels relative to December 2024.

• Within manufacturing, 16 of 23 industry groups posted YoY growth, pointing to broad-based expansion across industrial categories.

• The strongest manufacturing gains came from computer, electronic and optical products (+34.9%), motor vehicles, trailers and semi-trailers (+33.5%), and other transport equipment (+25.1%), highlighting rapid output growth in technology and transport-related industries.

• Basic metals (+12.7%), motor vehicles (+33.5%), and pharmaceuticals (+10.2%) were the largest contributors within manufacturing, driven by higher production of steel products, auto components, and medical-related goods.

• On a use-based basis, output rose +12.1% YoY in infrastructure/construction goods, +12.3% in consumer durables, +8.3% in consumer non-durables, +8.1% in capital goods, +7.5% in intermediate goods, and +4.4% in primary goods, showing widespread demand across investment and consumption categories.

India’s Index of Industrial Production rose +6.7% YoY in November 2025, rebounding sharply from October and led by manufacturing strength.

• Headline IIP growth accelerated to +6.7% YoY in November, up from +0.4% YoY in October, marking a sharp month-to-month improvement in industrial activity.

• By sector, Manufacturing expanded +8.0% YoY and Mining grew +5.4% YoY, while Electricity output declined -1.5% YoY, indicating uneven performance across the three major sectors.

• The overall IIP index increased to 158.0 from 148.1 a year earlier, with sector indices at 141.0 for Mining, 158.8 for Manufacturing, and 181.3 for Electricity.

• Within manufacturing, 20 of 23 industry groups recorded YoY growth, led by basic metals (+10.2%), pharmaceuticals (+10.5%), and motor vehicles, trailers, and semi-trailers (+11.9%).

• Growth in basic metals was supported by MS slabs, HR coils and sheets of mild steel, and flat products of alloy steel, while pharmaceuticals gains were driven by digestive enzymes, veterinary vaccines, and anti-psychotic drugs.

• Auto-related manufacturing strength reflected higher output of auto components, commercial vehicles, and passenger cars, contributing meaningfully to overall manufacturing growth.

• On a use-based basis, all categories posted YoY gains, led by infrastructure and construction goods (+12.1%), capital goods (+10.4%), intermediate goods (+7.3%), consumer durables (+10.3%), consumer non-durables (+7.3%), and primary goods (+2.0%), with infrastructure, intermediate, and consumer non-durables the largest contributors.

India’s Index of Industrial Production (IIP) rose +0.4% YoY in October 2025, easing sharply from +4.0% in September, reflecting slower activity amid fewer working days and weather-related disruptions to electricity demand.

• Mining output fell -1.8% YoY in October, while Manufacturing grew +1.8% YoY and Electricity declined -6.9% YoY, showing mixed performance across major sectors.

• The overall IIP index stood at 150.9 versus 150.3 in October 2024, with sectoral indices at 126.2 for Mining, 151.1 for Manufacturing, and 193.4 for Electricity.

• Within manufacturing, 9 of 23 industry groups posted YoY gains, led by basic metals (+6.6%), coke and refined petroleum products (+6.2%), and motor vehicles, trailers, and semi-trailers (+5.8%).

• Key contributors in basic metals included HR coils and sheets of mild steel, flat products of alloy steel, and MS slabs, while petroleum gains were supported by diesel, petrol/motor spirit, and hard coke.

• Auto-related categories such as auto components, passenger cars, and commercial vehicles drove growth in the motor vehicles group.

• By use-based classification, primary goods (148.9), capital goods (111.8), intermediate goods (166.5), and infrastructure/construction goods (197.2) all expanded YoY, except consumer durables (129.2) and consumer nondurables (139.9).

• Corresponding YoY growth rates were -0.6% for primary goods, +2.4% for capital goods, +0.9% for intermediate goods, +7.1% for infrastructure/construction goods, -0.5% for consumer durables, and -4.4% for consumer nondurables, with infrastructure, intermediate, and capital goods contributing most to overall IIP growth.

India’s Index of Industrial Production (IIP) rose +4.0% YoY in September 2025, unchanged from August, reflecting solid growth in manufacturing output led by metals, electrical equipment, and vehicles despite a small decline in mining.

• Manufacturing output grew +4.8% YoY, driven by strong gains in basic metals (+12.3%), electrical equipment (+28.7%), and motor vehicles, trailers, and semi-trailers (+14.6%).

• Mining output declined -0.4% YoY, while electricity generation rose +3.1% YoY, showing mixed performance across sectors.

• Within manufacturing, 13 of 23 industry groups recorded positive YoY growth, led by strong contributions from steel, electrical apparatus, and auto components.

• By use-based classification, output grew in Infrastructure/Construction Goods (+10.5%), Consumer Durables (+10.2%), and Intermediate Goods (+5.3%), while Consumer Non-Durables (-2.9%) and Primary Goods (+1.4%) lagged.

• The Capital Goods index rose +4.7% YoY, indicating continued improvement in investment-related production.