India's IIP Revised, Output Rises

India's industrial output expanded by 4.9% in April 2026, according to the first reading of the revamped Index of Industrial Production (IIP) series. The India — Ministry of Statistics and Programme Implementation (MoSPI) revised the IIP base year from 2011-12 to 2022-23 to better reflect the current structure of the economy. This revision includes an updated product basket, revised weightings, and wider sectoral coverage, incorporating new items like CCTV cameras and aircraft parts while removing outdated ones. Manufacturing, the largest component, grew 6.2%, with significant contributions from motor vehicles, electrical equipment, and machinery. Capital goods showed the strongest growth at 16%. The new series aims to provide a more accurate picture of industrial activity and improve GDP estimation, as noted by experts from PHD Chamber of Commerce and Industry.