India Unveils Revamped Industrial Production Index with 4.9% Growth

India's industrial production reported a 4.9% growth in April 2026, marking the debut of a revised Index of Industrial Production (IIP) using 2022-23 as the base year. The new data reflects improved coverage and accuracy, highlighting significant strides in the manufacturing sector despite contractions in mining.

India's industrial production registered a 4.9% growth in April 2026, marking the inaugural release of data under the updated Index of Industrial Production (IIP) series, setting the base year at 2022-23. Released by the Ministry of Statistics and Programme Implementation (MoSPI), the move aims to deliver a more accurate representation of the Indian economic structure.

The manufacturing sector was the cornerstone of this growth, showing a robust 6.2% expansion year-on-year. Meanwhile, electricity and gas supply grew in tandem at 4.9%, though the mining and quarrying sector saw a 5.1% decrease, tempering the overall industrial advancement. April's IIP stood at 118.9, up from 113.1 in April 2025, with manufacturing reflecting an increase from 112.3 to 119.3.

This April data is especially significant as it is the first to be issued under the revamped IIP framework, shifting from the old 2011-12 base series. This revision broadens industrial coverage, updates the product basket, and introduces methodological improvements, providing a clearer picture of industrial performance and economic shifts over the past decade, including the emergence of new industries.