India’s industrial output, measured by the Index of Industrial Production (IIP), grew by 5.1% in May 2026 compared to the previous year, improving from 4.9% growth in April 2026. April was the first month under the revised IIP series with 2022–23 as the new base year, featuring an updated product basket, revised weights, and wider sector coverage.
According to the Ministry of Statistics and Programme Implementation (MoSPI), the electricity and gas supply sector recorded the highest growth at 9.9%, while manufacturing and water supply, sewerage and waste management each grew by 5.5%. In contrast, the mining and quarrying sector contracted by 1.6%. MoSPI also replaced the Wholesale Price Index (WPI) with the Output Producer Price Index (Output PPI) as the deflator for the new IIP series, stating that the change will improve the accuracy of industrial output estimates and align India’s methodology with international best practices.
