Overview
- Official data show manufacturing expanded 8% year on year, mining rose 5.4% after the monsoon, and electricity contracted 1.5%.
- Top manufacturing contributors were basic metals up 10.2%, pharmaceuticals up 10.5%, and motor vehicles up 11.9%.
- Use-based categories posted broad gains, including capital goods up 10.4%, infrastructure and construction goods up 12.1%, and consumer durables up 10.3%.
- The National Statistics Office revised October IIP to 0.5% from 0.4%, while April–November growth slowed to 3.3% versus 4.1% a year earlier.
- Analysts warn the surge may be temporary as base effects fade, with ICRA citing US tariffs as a risk and projecting December growth at 3.5% to 5.0%.