India's Industrial Output Surges 6.7% in November, Hits 25-Month High

• India's Index of Industrial Production (IIP) rose 6.7% in November 2025, marking a 25-month high, significantly up from 0.5% in October 2025.
• The recovery was broad-based, with manufacturing accelerating to an 8% two-year high and mining output rising 5.4% after two months of contraction.
• Aditi Nayar of Icra attributed the surge to the festive calendar shift, post-festive restocking, and normalisation in mining/electricity.
• Consumption and investment indicators strengthened, with construction goods growing 12.1%, consumer durables 10.3%, and capital goods 10.4%.
• All six use-based industries expanded for the first time since January, though Icra expects December activity to cool to 3.5-5%.

Why It Matters: India's industrial output saw a strong, broad-based rebound in November, driven by manufacturing and consumption.