India's industrial growth cools to 4% in September

Business Oct 28, 2025

India's industrial growth cooled to 4% in September, marking its slowest pace in three months.
This dip came after disruptions from heavy rains and recent GST rate changes, with the core sector (think energy and infrastructure) growing just 3%—a noticeable drop from August.

Manufacturing impacted by heavy rains

Manufacturing, which makes up most of India's industrial output, was impacted by heavy rains.
On the brighter side, steel production jumped over 14%, thanks to big infrastructure spending.
Despite this slowdown, strong public investment and urban demand are keeping overall momentum solid for the first half of FY26.