India’s industrial production expanded by 1.2% from the previous year in May of 2025, slowing from the downwardly revised 2.6% increase in the previous month and firmly below market expectations of a 2.4% growth rate, to mark the softest pace of industrial growth since August 2024. Production in manufacturing expanded by 2.6% annually, slowing from the 3.1% expansion from the previous month, while electricity output contracted by 5.8%, sharply reversing the 1.7% growth rate from the previous month. Additionally, output for mining contracted by 0.1% to extend the 0.2% drop from April.
