India IIP Growth Slows to 4.1% in March 2026

India’s Index of Industrial Production recorded growth of 4.1% year on year in March 2026, down from 5.2% in February 2026. This is the weakest growth since October 2025. The data was released on 28 April 2026 by MoSPI.

The growth was supported by Manufacturing at 4.3% and Mining at 5.5%, while Electricity growth slowed sharply to 0.8%. The overall IIP index stood at 173.2 compared to 166.3 in March 2025.

Sectoral indices for March 2026 stood at 166.8 for Mining, 169.4 for Manufacturing, and 221.3 for Electricity. Within Manufacturing, 14 out of 23 industry groups recorded positive growth.

Top contributors in manufacturing included basic metals at 8.6%, motor vehicles and related segments at 18.1%, and machinery and equipment at 11.2%. Key items driving growth included MS slabs, alloy steel flat products, HR coils, auto components, commercial vehicles, axles, tractors, and lifting equipment.

Under use based classification, indices stood at 173.3 for Primary Goods, 156.2 for Capital Goods, 181.4 for Intermediate Goods, and 229.0 for Infrastructure and Construction Goods. Consumer durables stood at 146.2 and consumer non durables at 150.6.

Growth rates under use based classification were 2.2% for Primary Goods, 14.6% for Capital Goods, 3.3% for Intermediate Goods, 6.7% for Infrastructure and Construction Goods, 5.3% for Consumer durables, and 1.1% for Consumer non durables.

The Quick Estimates are compiled using data received from source agencies and will undergo revisions. The March 2026 estimates were based on a weighted response rate of 88.50%, while February 2026 final revision was based on 91.86%.

The next IIP release for April 2026 is scheduled for 1 June 2026.