India’s factory output as measured by the Index of Industrial Growth (IIP) moderated to a three-month low of 4.8 percent in January 2026, according to data released by the ministry of statistics and program implementation on Tuesday, March 3.
The January factory output growth of 4.8 percent was also significantly lower than eight percent growth recorded for January 2025, the data showed.
The deceleration was broad-based, with all the three production-based segments recording a slower growth in January 2026 as compared to the previous month. Mining output growth decelerated to 4.3 percent in January from 6.9 percent in December, while growth in electricity production softened by 5.1 percent in January from 6.3 percent in December.
Growth in capital goods production softened to 4.3 percent in January from 8.3 percent December, primary goods to 3.1 percent from 4.4 percent, and intermediate goods to 6.0 percent from 7.8 percent.
However, infrastructure and construction goods output edged up to 13.7 percent in January, from 12.8 percent in December.
