India’s Industrial Output Grows 5.1 Percent in May; Manufacturing, Electricity Drives Momentum

India’s production output has increased with positive results. According to statistics released by the Ministry of Statistics and Programme Implementation (MoSPI), India’s Index of Industrial Production (IIP) increased by 5.1% year-on-year in May 2026 over the same month last year, owing to growth in the manufacturing and electricity industries.

In May, the Ministry announced that manufacturing output increased 5.5 percent annually, while the electricity and gas supply sector experienced a 9.9 percent increase. During the month, however, the mining and quarrying sector shrunk by 1.6 percent.

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In May month, the quick estimate of the IIP was 122.7, which was more than the 116.7 recorded in May 2025. MoSPI also announced a significant methodological shift in the IIP compilation.

The Wholesale Price Index (WPI) has been replaced as the deflator for the new IIP series, which impacts 234 of the 463 commodity groups in the IIP basket, accounting for 36.02 percent of the overall index weight. The prior WPI based IIP 2022-23 series, which was released on June 1, 2026, is replaced by the revised series, reports ANI.

With 2022-23 as its base year, the new IIP series replaces the 2011-12 series, making this the second month of the fiscal year for its release. The new series aims to more accurately depict India’s industrial economy’s shifting structure, new manufacturing sectors and new infrastructure related operations, reports Mint.