IndiaTrackerActivity
What do the monthly indicators say about momentum before GDP comes out? Industrial production from MoSPI (Index of Industrial Production, base 2022-23), then high-frequency signals: power, vehicles, fuel, UPI payments, e-way bills and air traffic.
Industrial production growth, as published
IIP, % change on a year earlier
Base 2022-23 from April 2023, base 2011-12 before; each value is the rate MoSPI published on that base. Recent months are quick estimates and are revised.
Industrial production by sector and use
| IIP, % y/y | Apr 2026 | May 2026 | Jun 2026 | Jul 2026 | Aug 2026 | Sep 2026 |
|---|---|---|---|---|---|---|
| General | 4.9 | 5.0 | 8.8 | 7.4 | 7.8 | 6.7 |
| IIP mining | −3.8 | −1.4 | 1.6 | −0.9 | −4.6 | −6.2 |
| IIP manufacturing | 6.1 | 5.2 | 9.5 | 8.2 | 8.6 | 7.6 |
| IIP electricity | 4.6 | 10.3 | 11.3 | 8.7 | 12.3 | 11.2 |
| IIP primary goods | 0.8 | 2.7 | 5.4 | 4.2 | 4.2 | 4.0 |
| IIP capital goods | 12.0 | 15.5 | 17.9 | 19.0 | 15.9 | 10.4 |
| IIP intermediate goods | 10.3 | 5.8 | 11.5 | 10.4 | 14.2 | 12.2 |
| IIP infrastructure/construction | 6.0 | 6.6 | 8.8 | 8.0 | 8.0 | 7.2 |
| IIP consumer durables | 5.6 | 8.0 | 10.3 | 12.0 | 10.5 | 6.0 |
| IIP consumer non-durables | 0.2 | −0.4 | 5.6 | −0.8 | −1.1 | 1.4 |
Computed from the published indices (site calculations), so they can differ from MoSPI's published growth by rounding. Sector rows are mining, manufacturing and electricity; the rest are use-based categories.
Investment and consumer goods
IIP use-based categories, % change on a year earlier
Core industries
Index of Core Industries
% change on a year earlier
| % y/y | Apr 2026 | May 2026 | Jun 2026 | Jul 2026 | Aug 2026 | Sep 2026 |
|---|---|---|---|---|---|---|
| Overall | 2.7 | 3.2 | 6.0 | 5.0 | 5.9 | 7.9 |
| Core: coal | −9.0 | −9.5 | 1.4 | 7.6 | −3.8 | 10.7 |
| Core: natural gas | −4.2 | −5.0 | −4.8 | −3.0 | −4.9 | −4.6 |
| Core: crude oil | −3.2 | −4.2 | −4.2 | −5.3 | −3.6 | −1.4 |
| Core: refinery products | −0.2 | −8.2 | −4.0 | 3.0 | 5.6 | 10.3 |
| Core: fertilizers | −8.5 | −1.0 | −3.3 | −8.0 | −12.4 | −11.7 |
| Core: steel | 4.7 | 5.1 | 5.6 | 1.9 | 3.5 | 4.9 |
| Core: cement | 8.3 | 8.4 | 9.9 | 12.7 | 11.7 | 9.8 |
| Core: electricity | 5.5 | 11.2 | 11.4 | 8.4 | 13.1 | 11.4 |
| Core: iron ore | 12.5 | 19.0 | 44.5 | 29.5 | 5.5 | 18.4 |
Office of the Economic Adviser, DPIIT; base 2022-23 (which adds iron ore to the eight traditional industries). Released about a week before IIP, so it is an early read on industry.
Electricity demand
Electricity demand met
All-India energy met, million units per day, 7-day average
Electricity demand, change on a year earlier
7-day average of energy met, % change on a year earlier
Grid-India daily Power Supply Position reports (operational SCADA data; excludes captive and rooftop generation). Daily data are noisy, so even the 7-day average moves sharply when festivals fall in different weeks from one year to the next, or with weather; compare monthly averages for the underlying trend. Shown with attribution; not offered for download until Grid-India's terms are checked.
Vehicle sales
Vehicle sales
Domestic sales by manufacturers, lakh units a month
Vehicle sales, change on a year earlier
% change on a year earlier
SIAM monthly press releases: dispatches from manufacturers to dealers (wholesale), not retail registrations. Passenger vehicles start in April 2023, when Tata Motors joins the total; BMW, Mercedes, JLR and Volvo Auto are never included. Growth rates are site calculations from each month as first published, so they can differ from SIAM's own, which use revised figures for the year before. SIAM is an industry body: shown with attribution, not offered for download.
Retail registrations
Vehicles registered (retail sales)
Lakh units a month
Retail registrations, change on a year earlier
% change on a year earlier, as published by FADA
FADA's monthly releases: vehicles registered on the government's Vahan portal, which is closer to what households and firms actually bought than SIAM's factory dispatches. FADA restates earlier months as more registration offices are covered, so the levels use each month's newest figure. Growth is FADA's own figure for each release month. FADA is an industry body: shown with attribution, not offered for download.
Fuel consumption
Petroleum product consumption
% change on a year earlier
Diesel and petrol consumption
Thousand tonnes a month
| % y/y | Apr 2026 | May 2026 | Jun 2026 | Jul 2026 | Aug 2026 | Sep 2026 |
|---|---|---|---|---|---|---|
| All petroleum products | −6.5 | −8.1 | −4.3 | −0.4 | −3.1 | 3.4 |
| Diesel consumption | 0.8 | 1.5 | 6.1 | 10.0 | 6.8 | 5.6 |
| Petrol consumption | 6.8 | 3.4 | 7.4 | 9.2 | 8.2 | 7.9 |
| Jet fuel consumption | −0.1 | 0.9 | 0.0 | −0.7 | 2.3 | 1.0 |
| LPG consumption | −13.9 | −21.2 | −14.9 | −16.8 | −17.2 | −8.9 |
Petroleum Planning & Analysis Cell (Ministry of Petroleum and Natural Gas): sales by oil companies plus private direct imports, all provisional. The latest months use prorated import estimates and are revised. Diesel follows freight and farm activity; jet fuel follows air travel. Growth rates are site calculations from the published tonnes. From April 2023.
Digital payments (UPI)
UPI transactions
Crore transactions a month
UPI, change on a year earlier
% change in number and value of transactions
Unified Payments Interface transactions, as reprinted in RBI's monthly Payment System Indicators (NPCI's own pages can't be read by our scripts). The latest month is provisional. Growth rates are site calculations.
E-way bills
E-way bills generated
Crore a month, all India
E-way bills, change on a year earlier
% change in number and in the value of goods covered
An e-way bill is needed to move goods worth more than ₹50,000, so the count is a monthly read on goods movement. All-India totals are site sums over states of within-state and outgoing bills (incoming bills are other states' outgoing ones). Source: GST portal, e-way bill statistics, from July 2018. The value series is in current prices.
Air traffic
Air passengers
Million a month, all Indian airports
Air traffic, change on a year earlier
%
Passengers handled at all operational airports, as AAI reports them. Source: Airports Authority of India, monthly traffic reports. AAI's page lists only the current year's reports, so the series starts in January 2025 (from the year-earlier columns) and has a gap for October–December 2025 that fills as next year's reports appear.
Still to come on this page
Rail freight loading, PMI headline. Checklist: docs/guidebook/05-pages/activity.md.