Data Alert
India IIP growth rises to 5.2% in Feb on better manufacturing performance
This story was originally published at 17:51 IST on 30 March 2026
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--India Feb IIP growth 5.2% vs 2.7% year ago
--Informist Poll estimated Feb IIP growth at 4.0%
--India Jan IIP growth revised to 5.1% vs 4.8% provisional
--India Apr-Feb IIP growth 4.1% vs 4.1% year ago
--India Feb mining sector output growth 3.1% vs 1.6% year ago
--India Feb manufacturing sector output growth 6.0% vs 2.8% year ago
--India Feb electricity sector output growth 2.3% vs 3.6% year ago
--India Feb primary goods output growth 1.8% vs 2.8% year ago
--India Feb capital goods output growth 12.5% vs 8.2% year ago
--India Feb intermediate goods output growth 7.7% vs 1.0% year ago
--India Feb infrastructure goods output growth 11.2% vs 6.8% year ago
--India Feb consumer durables output growth 7.3% vs 3.7% year ago
--India Feb consumer non-durables output growth -0.6% vs -2.1% year ago
NEW DELHI – Growth in India's industrial output, as measured by the Index of Industrial Production, rose in February due to higher growth in manufacturing sector activity. Data released Monday by the statistics ministry showed IIP growth rose marginally to 5.2% in February from a revised print of 5.1% in January.
The February IIP growth was higher than expected. Economists polled by Informist had estimated growth in India's industrial production at 4.0% in February. Industrial output had risen 2.7% in February 2025. The January print was revised higher from the provisional estimate of 4.8%.
The industrial production growth was primarily driven by a rise in the output growth in the manufacturing sector. The manufacturing sector output, which has the highest weightage in the IIP, grew 6.0% on year in February. In January, the manufacturing sector saw 5.3% growth in output.
The growth in output of mining and electricity sectors slowed down in February. Mining sector output growth slowed to a four-month low of 3.1% in February and the electricity sector output slowed to a three-month low of 2.3%. Mining and electricity output grew 4.3% and 5.1%, respectively, in January.
"The slight sequential uptick in the IIP growth in February 2026 belied the halving seen in the core sector expansion," Aditi Nayar, chief economist at ICRA, said in a note.
Within the use-based classification, four of the six categories performed better in February than January. The capital goods segment saw the quickest output growth in February at 12.5%, a nine-month high, from 4.1% in January. Intermediate goods segment output rose 7.7% in February, higher than 6.3% in January.
The output in consumer non-durable segment declined 0.6% on year in February. In January, consumer non-durables output had declined 2.3% on year.
ICRA expects IIP growth to decelerate to approximately 3-4% in March as it sees the impact of the West Asia war on some manufacturing segments, "both through the price and availability channels, as well as weaker electricity performance in the month."
"More--and likely broader--headline damage is likely in the short run, given the energy- and trade-related disruptions caused by the crisis in the Middle East, a key export market for India," Miguel Chanco, chief emerging Asia economist at Pantheon Macroeconomics, said in a note.
Factory output has grown 4.1% in the first 11 months of 2025-26 (Apr-Mar), the same growth as recorded during the same period in FY25.
The following tables detail year-on-year changes in industrial output in February:
| February 2026 | January 2026 | February 2025 | |
| General | 5.2% | 5.1% | 2.7% |
| Mining | 3.1% | 4.3% | 1.6% |
| Manufacturing | 6.0% | 5.3% | 2.8% |
| Electricity | 2.3% | 5.1% | 3.6% |
| Primary goods | 1.8% | 3.1% | 2.8% |
| Capital goods | 12.5% | 4.1% | 8.2% |
| Intermediate goods | 7.7% | 6.3% | 1.0% |
| Infrastructure/construction goods | 11.2% | 14.6% | 6.8% |
| Consumer durables | 7.3% | 7.2% | 3.7% |
| Consumer non-durables | (-)0.6% | (-)2.3% | (-)2.1% |
| Mining | Electricity | Manufacturing | General | |||||
| FY26 | FY25 | FY26 | FY25 | FY26 | FY25 | FY26 | FY25 | |
| April | (-)0.2% | 6.8% | 1.7% | 10.2% | 3.1% | 4.2% | 2.6% | 5.2% |
| May | (-)0.1% | 6.6% | (-)4.7% | 13.7% | 3.2% | 5.1% | 1.9% | 6.3% |
| June | (-)8.7% | 10.3% | (-)1.2% | 8.6% | 3.7% | 3.5% | 1.5% | 4.9% |
| July | (-)7.2% | 3.8% | 3.7% | 7.9% | 6.0% | 4.7% | 4.3% | 5.0% |
| August | 6.6% | (-)4.3% | 4.1% | (-)3.7% | 3.8% | 1.2% | 4.1% | 0.0% |
| September | (-)0.4% | 0.2% | 3.1% | 0.5% | 5.6% | 4.0% | 4.6% | 3.2% |
| October | (-)1.8% | 0.9% | (-)6.9% | 2.0% | 2.0% | 4.4% | 0.5% | 3.7% |
| November | 5.8% | 1.9% | -1.5% | 4.4% | 8.5% | 5.5% | 7.2% | 5.0% |
| December | 6.9% | 2.7% | 6.3% | 6.2% | 8.4% | 3.7% | 8.0% | 3.7% |
| January | 4.3% | 4.4% | 5.1% | 2.4% | 5.3% | 5.8% | 5.1% | 5.2% |
| February | 3.1% | 1.6% | 2.3% | 3.6% | 6.0% | 2.8% | 5.2% | 2.7% |
| March | 1.2% | 7.5% | 4.0% | 3.9% | ||||
Source: Ministry of Statistics and Programme Implementation
End
Reported by Shweta
Edited by Akul Nishant Akhoury
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