New Delhi, July 29 -- India's industrial output, measured by the Index of Industrial Production (IIP), grew 7.3% year-on-year in June, a six-month high, led by a robust expansion in manufacturing, electricity and gas supply sectors and supported by moderate growth water supply and mining sectors and a favourable base effect, according to provisional data released by the ministry of statistics and programme implementation (MoSPI) on Tuesday. The release marks the third month this fiscal year of the new IIP series with 2022-23 as the base year, which replaced the 2011-12 series. The new series aims to better reflect the evolving structure of India's industrial economy, emerging manufacturing segments and new infrastructure-related activities. The June print was higher than the 1.5% growth recorded in June 2025 and the 5.1% expansion a month ago (now revised to 5%), as per industrial output estimates, indicating a gradual strengthening in industrial activity. The IIP stood at 123.1 in June 2026, compared with 114.7 a year ago, reflecting an overall improvement in output levels. The IIP data is tracked closely as a high-frequency indicator of economic activity, and provides an early signal on manufacturing momentum, investment demand and overall growth trends in the economy. Shashwat Singh, a fundamental analyst at Bajaj Broking, said, "The stronger-than-expected reading indicates that industrial growth gained traction at the end of the quarter despite ongoing global uncertainties. The June data comes against the backdrop of the government's recently introduced IIP series with 2022-23 as the base year, which incorporates the Output Producer Price Index in place of the earlier Wholesale Price Index for deflation purposes. This methodological shift enhances the accuracy of real output measurement by providing a more granular representation of producer prices and aligns India's industrial statistics with global best practices." The indicators pointed to an acceleration in manufacturing activity. Manufacturing, which accounts for the largest share (76.06%) in the IIP, grew 7.8% year-on-year in June, accelerating from 5.2% in May and significantly higher than 2.4% in June 2025, providing the main impetus to overall growth....