New IIP series: April industrial growth rises to 4.9% from 3.2% in March

📌 Summary:

• India's industrial output grew 4.9% in April 2026 vs. 3.2% in March, per the new Index of Industrial Production (IIP) series released by MoSPI on Monday

• New IIP series uses base year 2022-23 (replaces 2011-12), updates methodologies, and broadens coverage

• Past three years revised upwards in new series: 2023-24 → 6.7% (old 5.9%), 2024-25 → 6.4% (old 4.0%), 2025-26 → 4.3% (old 4.1%)

• Upward revisions driven primarily by stronger manufacturing and electricity growth

• Consumer goods split (April): durable goods +4.3%, non-durables +2.8% — durables suggest urban discretionary demand returning

• Wider picture: industrial activity stabilising after pandemic-era volatility; aligns with PLI scheme push; better base year alignment with new CPI/WPI series under NSO's broader statistical overhaul

🎯 UPSC Relevance: GS3 — Indian Economy (industrial growth, statistical reforms, manufacturing, base-year revisions and their interpretation).

📝 Prelims Facts:

• IIP: composite indicator measuring short-term changes in industrial production volume; released monthly by NSO under MoSPI
• IIP weights (new series): Manufacturing ~77.6%, Mining ~14.4%, Electricity ~8.0% (approximate)
• Use-based categories: Primary, Capital, Intermediate, Infrastructure/Construction, Consumer Durables, Consumer Non-durables
• Base year now 2022-23 — same as new WPI; aligns price and output measurement

🔑 Key Term: Base Year — the reference year used for index calculations (set as 100); periodic revision is needed to reflect changes in consumption baskets, production patterns and to keep indices representative of the current economy.