India’s Industrial Production (IIP) recorded a 4.8 % year-on-year (YoY) growth in January 2026 from 7.8% reported in December 2025.
The government release noted that the IIP growth was supported by 4.8% growth in Manufacturing sector and 5.1% growth in Electricity sector.
The general index for the month of January 2026 stood at 169.4, compared with 161.6 in January 2025.
Manufacturing and electricity support growth
Manufacturing and electricity sectors supported overall industrial growth during the month. Manufacturing output rose 4.8%, while electricity generation increased 5.1%. Mining output grew 4.3% year-on-year.
The index for manufacturing stood at 167.2, mining at 157.2, and electricity at 212.1 in January.
Manufacturing and electricity support growth
Manufacturing and electricity sectors supported overall industrial growth during the month. Manufacturing output rose 4.8%, while electricity generation increased 5.1%. Mining output grew 4.3% YoY.
The index for manufacturing stood at 167.2, mining at 157.2, and electricity at 212.1 in January.
Basic metals, auto and cement lead within manufacturing
Within manufacturing, 14 out of 23 industry groups recorded positive growth.
“Manufacture of basic metals” grew 13.2%, emerging as the top contributor. “Manufacture of motor vehicles, trailers and semi-trailers” expanded 10.9%, while “Manufacture of other non-metallic mineral products” rose 9.9%.
Steel products such as alloy steel flat products and MS slabs drove growth in basic metals. Auto components and commercial vehicles supported the motor vehicles segment. Cement and cement clinker boosted the non-metallic mineral products category.
Government to revise base year for IIP series from May 2026
The government has announced a revision in the base year for key macroeconomic indicators, including GDP and the Index of Industrial Production (IIP).
The Indian government has announced that it will shift the base year of IIP to 2022–23, with the new series to be released in May 2026. The government has already shifted the base year for GDP and IIP to 2022–23, while the Consumer Price Index (CPI) will move to a 2024 base.