India's industrial output for April came in at 4.9% under a new series after the government revised the base year for the 10th time, expanding the index's coverage with 120 new item groups and providing more granular data through separate indices for multiple sectors.
Industrial output growth was expected to come in at 3.9%, according to economists polled by Reuters.
Industrial output in April 2025 was 5.7%, according to data from the National Statistics Office.
The factory output, measured by the Index of Industrial Production (IIP), had slowed to a five-month low of 4.1% in March under the old series while the growth rate for February was revised lower to 5.1% back then. However, the numbers have been revised to 3.2% for March and 5.3% for February.
"As per the new IIP series (base year: 2022-23) released by the MOSPI, the IIP growth improved to 4.9% in April 2026 from 3.2% in March 2026, led by three of the four sub-segments barring mining and quarrying, belying the fear of an immediate negative impact of the West Asia crisis," said Aditi Nayar, Chief Economist at ICRA Ltd.
