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Robust growth in mining, manufacturing pushes India’s IIP to 2-year high of 6.7% in November
Dec-29-2025

With robust growth in mining and manufacturing, India’s industrial output growth, measured in terms of the Index of Industrial Production (IIP), jumped to two-year high of 6.7 per cent in November 2025 from 0.5 per cent in October 2025 and 5.0 per cent in November 2024. The previous high was recorded at 11.9 per cent in November 2023. The Quick Estimates of IIP stood at 158.0 for November 2025 against 148.1 in November 2024. The National Statistics Office (NSO) has revised the industrial production growth for October 2025 to 0.5 per cent from the provisional estimate of 0.4 per cent released last month. During the April-November period of FY26, the country's industrial production grew by 3.3 per cent compared to 4.1 per cent in the corresponding period of last year.

Mining production surged by 5.4 per cent in the November month of this year against a growth of 1.9 per cent recorded a year ago and a contraction of 1.8 per cent in previous month (October 2025). The manufacturing sector, which comprises the largest component of the index, expanded by 8.0 per cent in September 2025 against 5.5 per cent in the year-ago month and 2.0 per cent in previous month. However, electricity production contracted by 1.5 per cent in November 2025 against 4.4 per cent expansion in the year-ago period and contraction of 6.9 per cent in previous month. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2025 stood at 141.0, 158.8 and 181.3 respectively. 

Within the manufacturing sector, 20 out of 23 industry groups at NIC 2 digit-level have recorded a positive growth in November 2025 over November 2024. The top three positive contributors for the month of November 2025 are - ‘Manufacture of basic metals’ (10.2%), ‘Manufacture of pharmaceuticals, medicinal chemical and botanical products’ (10.5%) and ‘Manufacture of motor vehicles, trailers and semi-trailers’ (11.9%).

As per the use base classification, the output of primary goods stood at 2.0 per cent in November 2025 against 2.7 per cent growth a year earlier. The capital goods segment growth surged to 10.4 per cent in November 2025 from 8.9 per cent in the year-ago period. The expansion in the intermediate goods segment rose 7.3 per cent in the month under review against 4.8 per cent a year ago. Output of infrastructure/construction accelerated 12.1 per cent in November 2025, from 8.0 per cent in the year-ago period. Consumer durables (or white goods production) growth stood at 10.3 per cent during the reporting month against 14.1 per cent in November 2024. In November 2025, consumer non-durables output jumped to 7.3 per cent as against a growth of 0.6 per cent a year ago.

The indices stood at 150.7 for Primary Goods, 117.8 for Capital Goods, 170.1 for Intermediate Goods and 198.7 for Infrastructure/ Construction Goods for the month of November 2025. Further, the indices for Consumer durables and Consumer non-durables stood at 134.0 and 169.7 respectively.
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