The Index of Industrial Production (IIP) registered a slower year-on-year growth of 0.4% (Quick Estimate) in October 2025 as compared to 3.7% in October 2024, driven by notable deceleration in the mining and electricity sectors, said Mr. Rajeev Juneja, President, PHD Chamber of Commerce and Industry (PHDCCI).
The mining sector registered a negative growth rate of (-1.8%) in October 2025, compared to a 0.9% growth in the corresponding month of the previous year. The electricity sector witnessed a sharp contraction, with production declining from 2% growth in October 2024 to (-6.9%) in October 2025, he added.
The manufacturing sector maintained positive growth, expanding by 1.8% in October 2025, though this was slower than the 4.4% growth recorded in October 2024. This moderation is attributed to the fact that only 9 out of 23 industry groups within the manufacturing sector at the NIC-2 digit level reported positive growth in October 2025 over the same month last year. The top three positive contributors for the month of October 2025 are – Manufacture of basic metals (6.6%), Manufacture of coke and refined petroleum products (6.2%) and Manufacture of motor vehicles, trailers and semi-trailers (5.8%), he said.
Among the use-based categories, construction goods posted a robust year-on-year growth of 7.1% in October 2025, higher than the 4.7% recorded in October 2024. Intermediate goods and capital goods also contributed positively to overall growth, he added.
Looking ahead, the recent policy measures—including the PLI Scheme for White Goods, the Export Promotion Mission, and the Government’s continued efforts to strengthen bilateral partnerships with countries such as the UAE, Canada, Israel and New Zealand will create a more supportive ecosystem for manufacturing. These initiatives will enhance investment, expand production capacities and improve export competitiveness, thereby contributing to a steady and sustainable rise in the Index of Industrial Production (IIP) in the coming months, said Secretary General and CEO, Dr. Ranjeet Mehta.
