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

India’s industrial production growth moderated to 4.8 per cent year-on-year in January 2026, according to data released by the Ministry of Statistics and Programme Implementation on Monday.The growth rate marked a slowdown from December’s revised quick estimate of 7.8 per cent, indicating a moderation in industrial momentum at the start of the new calendar year.As per the data, manufacturing expanded by 4.8 per cent in January, while electricity generation rose 5.1 per cent and mining output grew by 4.3 per cent.The quick estimate of the Index of Industrial Production (IIP) stood at 169.4 in January 2026, compared with 161.6 in January 2025. Within manufacturing, 14 out of 23 industry groups at the two-digit National Industrial Classification level recorded positive growth.
Key contributors to manufacturing growth included basic metals, motor vehicles, and other non-metallic mineral products. Basic metals output surged 13.2 per cent, driven by increased production of alloy steel products and mild steel coils. Motor vehicles, trailers and semi-trailers registered a growth of 10.9 per cent, while other non-metallic mineral products including cement and stone chips — expanded by 9.9 per cent.On a use-based classification, infrastructure and construction goods posted strong growth of 13.7 per cent, reflecting continued capital expenditure activity. Intermediate goods grew by 6.0 per cent, and consumer durables rose by 6.3 per cent. However, consumer non-durables contracted by 2.7 per cent during the month.The January 2026 figures are quick estimates and may be revised as additional data from source agencies becomes available. The Ministry also finalised the December 2025 indices based on updated inputs from reporting units.According to information, the next release of IIP data, covering February 2026, is scheduled for March 30.

(Business Correspondent)