Good foundation: on India’s strong industrial growth performance

India’s industrial growth performance in August continued its strong streak since the beginning of the financial year, and sets the economy up well for the upcoming festive season. Growth in the Index of Industrial Production (IIP) quickened to 8% in August 2026, the second fastest that it has been since at least April 2024, which is the earliest month for which the new series of the IIP has growth data. The fastest growth in this period, of 8.8%, came as recently as June 2026. In fact, IIP growth in the April-August period of this financial year stood at a robust 6.8%, faster than that seen during the corresponding periods of the previous two years. The new series has an updated base year, more data sources, and improved methodology, so this growth performance is as accurate an indication of industrial growth as government data can provide.