FX.co ★ India Industrial Production Expands in

India’s industrial output grew 4.9% year-on-year in April 2026, comfortably exceeding market expectations of 3.9%. The data underscored the resilience of the country’s goods-producing sectors, despite persistent headwinds from surging energy prices and ongoing volatility in the rupee, both of which have eroded domestic purchasing power. This was the first release based on the reweighted industrial production index compiled by MOSPI, and it followed a 4.1% annual increase recorded in the previous month. Manufacturing output was particularly strong, expanding by 6.2% over the same period.