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India's industrial production growth stood at 4.9 per cent in April 2026 compared to the corresponding month of the previous year, according to the first official release of the revamped Index of Industrial Production (IIP) series with 2022-23 as the new base year.
The latest data, released by the Ministry of Statistics and Programme Implementation (MoSPI), marks the beginning of a new statistical series aimed at better reflecting the current structure of the Indian economy. The growth in industrial activity was driven largely by the manufacturing sector, which registered a robust expansion of 6.2 per cent year-on-year in April. Electricity and gas supply recorded a growth of 4.9 per cent during the month, while the mining and quarrying sector contracted by 5.1 per cent, moderating the overall industrial growth rate. According to the quick estimates, the overall IIP stood at 118.9 in April 2026 as against 113.1 in April 2025. The manufacturing index rose to 119.3 from 112.3 a year ago, reflecting improved factory output and continued momentum in industrial activity. The April data is significant as it is the first set of industrial production figures released under the revised IIP framework with 2022-23 as the base year, replacing the earlier 2011-12 series. The revised series incorporates a wider industrial coverage, updated product basket and weights, and methodological improvements intended to provide a more accurate picture of the country's industrial performance. MoSPI has stated that the new series has been designed to capture structural changes in the economy over the past decade, including the emergence of new industries and products. The revised framework also offers greater granularity and improved representation of industrial activity through the inclusion of additional item groups and updated data sources. The April reading comes after industrial production growth of 4.1 per cent in March 2026 under the old 2011-12 base series. The government has been undertaking a broader overhaul of key economic indicators, including GDP and price indices, by shifting to newer base years and incorporating improved data sources and statistical methodologies. These revisions are likely to help generate more representative and policy-relevant economic indicators. (ANI)
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