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Informist, Monday, Jun. 1, 2026

 

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--India Apr IIP growth 4.9%
--Informist Poll estimated Apr IIP growth at 3.7% 
--CONTEXT: India releases IIP data for April with new series, FY23 base year 
--India Apr IIP growth 4.9% vs 5.7% year ago 
--India Apr mining, quarrying sector output growth -5.1% 
--India Apr mining, quarrying sector output growth -5.1% vs 0.6% yr ago 
--India Apr manufacturing sector output growth 6.2% vs 6.4% yr ago 
--India Apr electricity, gas supply sector output growth 4.9% vs 6.1% yr ago 
--India Apr water supply sector output growth 6.6% vs 8.2% yr ago 
--India Apr primary goods output growth 0.8% vs 3.3% yr ago 
--India Apr capital goods output growth 16.0% vs 13.8% yr ago 
--India Apr intermediate goods output growth 7.7% vs 7.6% yr ago 
--India Apr infrastructure goods output growth 7.1% vs 6.4% yr ago 
--India Apr consumer durables output growth 4.3% vs 7.2% yr ago 
--India Apr consumer non-durables output growth 2.8% vs 4.1% yr ago 

 

NEW DELHI – India's industrial output grew 4.9% on year in April, according to the new Index of Industrial Production released Monday. Growth was driven by the manufacturing sector while the output of the mining sector contracted year-on-year in April.

 

Growth in industrial production in April was quicker than expectations. Economists polled by Informist had estimated growth in India's industrial production at 3.7% in April, though most estimates were for the old IIP series. Industrial production had risen 5.7% in April 2025, as per the new series.

 

The April IIP print is the first in the new series, which has 2022-23 (Apr-Mar) as the base year, compared with FY12 in the old series. The new IIP series covers more industries--such as rare earth minerals, gas supply, and water supply--and track more items, helping the government to better monitor the health of the industrial sector.

 

Industrial output grew 3.2% in March, according to the new series. The old series had pegged growth in March at 4.1%. Industrial performance in April belied the fear of an immediate negative impact of the crisis in West Asia, Aditi Nayar, chief economist at ICRA, said in a note.

The growth in the manufacturing sector output rose 6.2% in April, slower than 6.4% in the corresponding period a year ago. In the latest series, the weight of the manufacturing sector has come down slightly to 76.062% from 77.633% in the FY12 series.

 

The output in water supply, sewerage, and waste management--the latest addition in the basket--grew 6.6% in April, slower than 8.2% in April 2025. The sector has a 2.020% weight in the new series.

 

Mining and quarrying sector output fell 5.1% in April against a rise of 0.6% in April 2025. The sector has a weight of 11.053% in the latest series, against 14.372% in the previous series.

 

The industrial output in the electricity and gas supply sector, with a weight of 10.865% now, increased 4.9% on year in April against 6.1% a year ago.

 

Within the six use-based classifications, capital goods sector led the rise in April. The capital goods output rose 16.0%, up from 13.8% in April 2025.

 

The intermediate goods and infrastructure goods segments also saw strong growth in April. The production in the intermediate goods segment grew 7.7% in April, slightly higher than 7.6% in April 2025. The output in the infrastructure and construction goods segment rose 7.1%. Industrial activity in the segment had risen 6.4% a year ago.

 

The output in the primary goods segment rose 0.8% in April. Activity in the primary goods segment, which has the maximum weight in the index, rose 3.3% a year ago.

"Interestingly, as per this, industrial output expanded at a relatively higher pace in FY2024 and FY2025 than previously estimated, with the manufacturing sector in particular reporting much higher growth rates in both these years," Nayar said. "This could lead to some upward revision in the GDP estimates for these years, when the revised data for the same is released later this week."

 

The following tables detail year-on-year changes in industrial output in April:

 

	April 2026	March 2026	April 2025
General	4.9%	3.2%	5.7%
Mining and Quarrying	(-)5.1%	(-)2.5%	0.6%
Manufacturing	6.2%	3.9%	6.4%
Electricity and Gas Supply	4.9%	4.4%	6.1%
Water Supply, Sewerage, and Waste Management	6.6%	6.4%	8.2%
Primary goods	0.8%	1.3%	3.3%
Capital goods	16.0%	11.2%	13.8%
Intermediate goods	7.7%	4.1%	7.6%
Infrastructure/construction goods	7.1%	5.8%	6.4%
Consumer durables	4.3%	2.4%	7.2%
Consumer non-durables	2.8%	(-)0.9%	4.1%

 

	Mining and Quarrying		Electricity and Gas Supply		Manufacturing		Water Supply, Sewerage, and Waste Management		General
	FY27	FY26	FY27	FY26	FY27	FY26	FY27	FY26	FY27	FY26
April	(-)5.1%	0.6%	4.9%	6.1%	6.2%	6.4%	6.6%	8.2%	4.9%	5.7%
May		5.9%		3.5%		4.7%		8.5%		4.8%
June		4.1%		3.2%		2.7%		7.9%		3.0%
July		10.8%		3.3%		4.6%		7.5%		5.0%
August		15.8%		(-)6.9%		3.9%		6.9%		3.6%
September		15.8%		(-)3.8%		5.7%		6.3%		5.5%
October		3.0%		(-)1.9%		(-)0.3%		6.1%		0.0%
November		3.2%		(-)6.2%		8.9%		4.3%		6.5%
December		0.7%		(-)3.2%		7.9%		4.3%		5.8%
January		(-)0.5%		6.3%		4.9%		5.1%		4.5%
February		(-)2.4%		8.6%		5.9%		5.6%		5.3%
March		(-)2.5%		4.4%		3.9%		6.4%		3.2%

 

Source: Ministry of Statistics and Programme Implementation

 

End

 

Reported by Shweta and Shubham Rana

Edited by Rajeev Pai

 

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