What happened: core sector growth slows in July 2026
India’s core sector output growth slowed to 5.4% in July 2026. Natural gas output contracted by 3.7% and crude oil output contracted by 5.3%, with both remaining in contraction for 14 straight months.
Sector-wise performance reported for July 2026
The July print shows mixed movement across components of India’s core industrial output basket. Reported sector-wise changes include the following:
Refinery products showed a rebound relative to a recent pattern, while electricity and cement were comparatively stronger.
Background and earlier position: contraction and partial support
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- Provisionally estimated Index of Core Industries (ICI) for July 2026; revised final ICI for June 2026 (base 2022-23)