This paper investigated the performance of the latest International Reference Ionosphere model (IRI-2016) over that of IRI-2012 in predicting total electron content (TEC) at three different stations in the Indian region. The data used were Global Positioning System (GPS) data collected during the ascending phase of solar cycle 24 over three low-latitude stations in India namely; Bangalore (13.02°N Geographic latitude, 77.57°E Geographic longitude), Hyderabad (17.25°N Geographic latitude, 78.30°E Geographic longitude) and Surat (21.16°N Geographic latitude, 72.78°E Geographic longitude). Monthly, the seasonal and annual variability of GPS-TEC have been compared with those derived from International Reference Ionosphere IRI-2016 and IRI-2012 with two different options of topside electron density: NeQuick and IRI01-corr. It is observed that both versions of IRI (i.e., IRI-2012 and IRI-2016) predict the GPS-TEC with some deviations, the latest version of IRI (IRI-2016) predicted the TEC similar to those predicted by IRI-2012 for all the seasons at all stations except for morning hours (0500 LT to 1000 LT). This shows that the effect of the updated version is seen only during morning hours and also that there is no change in TEC values by IRI-2016 from those predicted by IRI-2012 for the rest of the time of the day in the Indian low latitude region. The semiannual variations in the daytime maximum values of TEC are clearly observed from both GPS and model-derived TEC values with two peaks around March-April and September-October months of each year. Further, the Correlation of TEC derived by IRI-2016 and IRI-2012 with EUV and F10.7 shows similar results. This shows that the solar input to the IRI-2016 is similar to IRI 2012. There is no significant difference observed in TEC, bottom-side thickness (B0) and shape (B1) parameter predictions by both the versions of the IRI model. However, a clear improvement is visible in hmF2 and NmF2 predictions by IRI-2016 to that by IRI-2012. The SHU-2015 option of the IRI-2016 gives a better prediction of NmF2 for all the months at low latitude station Ahmedabad compare to AMTB 2013.