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Abstract The vertical ionospheric TEC values obtained from GAGAN grid based ionospheric delay correction values over the sea in the Indian equatorial region have been compared with the corresponding values derived from the International Reference Ionosphere model, IRI-2016. The objective of this work is to study the deviation of the vertical TEC derived from the IRI model from ground truths over the sea for different conditions. This will serve the basic intention of assessing the candidature of the IRI model as an alternative ionospheric correction model in navigation receivers in terms of accuracy. We have chosen different solar activity periods, seasons, geomagnetic conditions, locations etc. for our comparison and analysis. The TEC values by the IRI-2016 were compared with the actual measured values for the given conditions and errors were obtained. The measured vertical TEC values at the ionospheric grid points were derived from the GAGAN broadcast ionospheric delay data and used as reference. The IRI model with standard internal functions was used in estimating the TEC at the same ionospheric grid points. The errors in the model derived values are statistically analysed. Broadly, the results show that, for the Indian sector over the sea, the IRI model performs better on quiet days in off equatorial regions, particularly in the northern region. The overall performance degrades for other conditions with the model generally underestimating the true TEC values and most severely in the equatorial region. The performance is worst in this region for the disturbed days of the equinoctial period. The comparison study is also done with the TEC data measured directly by dual frequency GPS receivers. The results were found to be in general agreement with those obtained by comparing the model with GAGAN broadcast data as reference. This study will be useful in considering the IRI-2016 model for real time estimates of TEC as an alternative to the current parametric model in a satellite navigation receiver in absence of other options. [ABSTRACT FROM AUTHOR]