India’s industrial output growth slows to 4.8% in January

India’s industrial output growth eased to 4.8% year-on-year in January, down from 7.8% in December, as manufacturing and electricity output expanded at a moderate rate, government data showed on Monday.

According to the Quick Estimates of the Index of Industrial Production (IIP) released by the Ministry of Statistics and Programme Implementation, the factory output index stood at 169.4 in January 2026 compared to 161.6 in the year-ago period.

Manufacturing, which accounts for the bulk of the index, grew 4.8% in January, while electricity generation increased 5.1% and mining output rose 4.3%.

In absolute terms, the IIP stood at 169.4 in January, up from 161.6 a year earlier. The manufacturing index was at 167.2, mining at 157.2 and electricity at 212.1.

Fourteen of the 23 industry groups in the manufacturing sector recorded positive growth during the month.

Among the top contributors to manufacturing growth were basic metals, which expanded 13.2% from a year earlier, motor vehicles, trailers and semi-trailers, up 10.9%, and other non-metallic mineral products, which rose 9.9%.

Growth in basic metals was led by higher output of alloy steel flat products, mild steel slabs, and hot-rolled coils and sheets.

On a use-based classification, infrastructure and construction goods recorded the strongest growth at 13.7% year-on-year, followed by intermediate goods at 6.0% and primary goods at 3.1%. Capital goods output rose 4.3%, while consumer durables increased 6.3%.

Consumer non-durables, however, contracted 2.7% compared with January last year.

The government said the quick estimates for January were compiled at a weighted response rate of 89.53%, while December’s data were revised with a response rate of 92.65%.

The index for February is scheduled to be released on March 30.