India’s Industrial Production Slows to 4.1 Percent in March, Marking Weakest Growth in Five Months

The sector-wise performance for March shows mixed trends across core industries. Mining output expanded by 5.5 percent, while the manufacturing sector recorded a growth rate of 4.3 percent. Electricity generation registered the slowest growth among the three major segments at 0.8 percent, reflecting subdued energy demand during the month.

The Quick Estimates of the Index of Industrial Production stood at 173.2 in March 2026, compared with 166.3 in the corresponding month of March 2025, indicating overall year-on-year expansion despite the monthly slowdown.

Sectoral indices for March 2026 further underline the performance trends across key segments. The index for mining stood at 166.8, manufacturing at 169.4, and electricity at 221.3, reflecting varying degrees of output strength across industries.

The overall data points to a cooling phase in industrial activity, with growth easing from the previous month and remaining below recent peak levels observed earlier in the fiscal cycle. The divergence in sectoral performance highlights uneven recovery patterns across India’s core industrial base.