India Industry

India Industry

Industrial Production in India

India's economy recorded an average growth rate of 3.1% in industrial production in the decade to 2022, below the 4.1% average for Asia-Pacific. In 2022, industrial production growth was 5.3%. For more industry information, visit our dedicated page.

India Industry Chart

Note: This chart displays Industrial Production (annual variation in %) for India from 2013 to 2022.
Source: MOSPI India.

India Industry Data

2018 2019 2020 2021 2022
Industrial Production (ann. var. %) 3.8 -0.8 -8.5 11.4 5.3

Industrial output growth gains momentum in December

Industrial output increased 3.8% in year-on-year terms in December, which was above November's 2.4% increase. The pickup was largely driven by faster growth in manufacturing production. In contrast, mining output lost steam. Meanwhile, annual average industrial production growth fell to 5.6% in December (November: +5.7%). This signals a worsening trend in the industrial sector.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Indian industry projections for the next ten years from a panel of 2 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Indian industry.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Indian industry projections.

Want to get access to the full dataset of Indian industry forecasts? Send an email to

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