India’s industrial production hits two-year high with 6.7% growth in November

India’s industrial output staged a strong comeback in November 2025, with the Index of Industrial Production (IIP) rising 6.7 percent year on year, signalling a clear rebound after the festive-season slowdown seen in October.

Economists polled ‌by ‍Reuters ‍projected a growth ‌of 2.5%.

The sharp acceleration came after IIP growth had slipped to just 0.4 percent in October 2025, disrupted by Diwali and holiday-related pauses in factory activity. In comparison, industrial output had expanded 5.0 percent in November 2024. November’s numbers reflect a return to normal production levels and a pickup in consumption after the festive period.


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The recovery was led by manufacturing, which grew 8.0 percent in November. Key contributors included the manufacture of basic metals and fabricated metal products, pharmaceuticals, and motor vehicles. Together, these segments provided the biggest boost to overall industrial growth.

Mining activity also rebounded, growing 5.4 percent during the month, aided by the end of the monsoon season and stronger output of metallic minerals such as iron ore. Electricity generation, however, contracted 1.5 percent year on year, acting as a mild drag on headline growth.

The top three contributors were manufacture of basic metals, which grew 10.2 percent, pharmaceuticals, medicinal chemical and botanical products at 10.5 percent, and motor vehicles, trailers and semi-trailers at 11.9 percent.

In growth terms, capital goods output rose 10.4 percent year on year, infrastructure and construction goods expanded 12.1 percent, intermediate goods grew 7.3 percent, and consumer durables increased 10.3 percent. Primary goods saw a more modest rise of 2.0 percent, while consumer non-durables grew 7.3 percent.

Infrastructure and construction goods, intermediate goods, and consumer non-durables emerged as the top contributors to overall IIP growth during the month.