India's Core Sector Growth Decelerates to 5.4% in July

Growth in India’s core industrial sectors slowed to 5.4% in July 2026 from 6% in June, according to data released by the Ministry of Commerce and Industry.

The slowdown was driven by an 8% contraction in fertilisers and a decline in steel growth to 2.9%, while natural gas and crude oil sectors continued their 14-month streak of contractions.

Cement and electricity sectors remained bright spots, recording growth rates of 13.1% and 9% respectively, despite the overall deceleration in industrial activity.