Abstract The real-time position accuracy of the Global Navigation Satellite System (GNSS)/Navigation with Indian Constellation (NavIC) receiver is limited by the dynamic behavior of the ionosphere, particularly in adverse conditions like solar flares and geomagnetic storms. The NavIC satellites broadcast dual coherent radio beacon signals on L5 (1,164.5 MHz) and S (2,472.5 MHz) bands for providing position, velocity, and timing services in all weather conditions. The Total Electron Content (TEC) and Rate of TEC Index (ROTI) are the potential indicators for characterizing the ionosphere and its irregularities. In this research work, the TEC and ROTI are computed from the code and carrier phase observations of the NavIC receiver located at Kurnool low latitude station (15.79° N, 78.07° E) with geomagnetic coordinates (7.30° N, 151.65° E). This paper presents a statistical study of TEC, ROTI, and the correlation between ROTI and NavIC positioning error during highly intense solar flares (X9.3 and X2.2) and geomagnetic storm conditions. Compared to quiet days mean TEC, the enhancement is 3 TECU due to X9.3 flares, and the maximum peak of TEC on storm day (September 8, 2017) is 80.92 TECU. Moreover, the correlation coefficient between ROTI and position error is 0.76 on a quiet day (September 4, 2017), 0.54 on an intense solar flares day (September 6, 2017), and 0.24 on a storm day (September 8, 2017), this indicates positional accuracy degradation on a geomagnetic storm day. The outcome of this research work would be helpful for investigating characteristics of the northern low latitude ionospheric irregularities and, in turn, useful for developing suitable ionospheric nowcasting/prediction models for GNSS applications.