Growth in the Index of Industrial Production (IIP) slowed to a five-month low of 4.1% in March 2026, the first month of data after the West Asia crisis began, pulled down by a near-halving in construction sector growth rates and low growth in consumer-centric sectors.

Data released by the Ministry of Statistics and Programme Implementation on Tuesday (April 28, 2026) showed that growth in the IIP has been slowing since January, before the West Asia crisis broke out. Economists point out that the full economic impact of the crisis will play out over the next few months.