India Industrial Output Expands 6.7% in July

India's industrial output, measured by the Index of Industrial Production, expanded by 6.7% year-on-year in July 2026. This growth moderated slightly from June's upwardly revised 8.8%, driven primarily by strong performances in the manufacturing and electricity sectors, while the mining sector experienced a minor contraction of 0.9%.

The manufacturing sector, accounting for 76.06% of the IIP, grew by 7.3% in July, with robust gains in motor vehicles, electrical equipment, and machinery. Capital goods production increased by 16.1% and consumer durables rose by 10.5%, though consumer non-durables contracted by 1% to signal lingering sluggishness in rural consumption patterns.

Internationally, UK grocer Asda returned to like-for-like sales growth for the first time in over two years under executive chairman Allan Leighton. Asda reported a 0.2% rise in sales excluding fuel in the seven weeks to mid-August, alongside preparations for an Ocado delivery partnership rollout by 2027.