Overview
- Manufacturing expanded 8% with the biggest contributions from basic metals, pharmaceuticals, and motor vehicles.
- Mining grew 5.4% after monsoon disruptions eased, while electricity output fell 1.5%.
- Breadth improved as 20 of 23 manufacturing groups posted gains and all six use-based categories rose, led by infrastructure/construction and capital goods.
- The NSO revised October IIP to 0.5%, and April–November growth slowed to 3.3% versus 4.1% a year earlier.
- Economists point to GST rate cuts and festive restocking as key drivers and warn of external headwinds such as US tariffs, with December IIP projected at 3.5–5.0%.