India's Industrial Output Growth Slows to 4.8% in January 2026

India's industrial output growth slowed to 4.8% year-on-year in January 2026, down from 7.8% in December, according to official data. Manufacturing and electricity sectors supported growth with increases of 4.8% and 5.1%, respectively, while mining rose 4.3%. Key contributors included basic metals (13.2%), motor vehicles (10.9%), and non-metallic mineral products (9.9%). Consumer durables grew 6.3%, but consumer non-durables contracted 2.7%, indicating uneven demand. Capital goods growth eased to 4.3%, suggesting cautious investment sentiment.