Industrial growth pulled down to 10-month low of 1.5% in June
Also read: Forward looking reforms have transformed mining sector: Kishan Reddy
Data on the Index of Industrial Production (IIP), released by the Ministry of Commerce and Industry, showed the index last witnessed worse growth numbers in August 2024.
The mining and quarrying sector contracted 8.7% in June 2025, its worst performance since August 2020. The electricity sector contracted 2.6% in June 2025, a smaller contraction than in May 2025 (-4.7%), but a significantly worse performance than the 8.3% growth in June 2024.
Editorial | Steep decline: On the Index of Industrial Production
The manufacturing sector, on the other hand, grew at a 5-month high of 3.9% in June 2025, up from 3.2% in May and 3.5% in June of last year.
The primary goods sector contracted 3% in June 2025, its worst performance in 56 months. Intermediate and infrastructure and construction goods grew at 5.5% and 7.2%, respectively. This was the highest in six months and three months, respectively.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
15 hours ago
- Mint
India's silent data revolution will arm policymaking with evidence
India is at the cusp of a transformative data revolution that promises to fundamentally reshape how we understand the economy. The ministry of statistics and programme implementation (MoSPI) has embarked on an ambitious modernization agenda that is not merely updating existing systems but re-imagining our entire statistical infrastructure. This represents a significant advance in public administration, with profound implications for policymaking, governance and economic planning. There are four key aspects of this exercise: timeliness and frequency of data releases, data diversity to expand the statistical universe, harmonization of administrative data-sets and a user-centric shift in producing official statistics. The most visible transformation is the higher speed and frequency of data dissemination. India's Consumer Price Index (CPI) was already on par with global standards in timeliness, while the Periodic Labour Force Survey (PLFS) has evolved from an annual exercise to a monthly pulse -check of employment. What once took 5-6 months to publish now emerges within 45-90 days of completion. Also Read: GDP's dirty little secret: Why we should be tracking GVA instead This acceleration extends across indicators. The Index of Industrial Production now appears within 28 days from the end of its reference month, compared to 42 days previously. The extension of quarterly PLFS to rural areas represents a leap that gives policymakers near real-time insights into rural employment trends that used to be invisible for months. Moving the Annual Survey of Unincorporated Sector Enterprises to a quarterly schedule will provide better insights into informal sector activity. This is a shift in governance philosophy. When data arrives months after the fact, policy responses are reactive at best. When statistics flow with the rhythm of economic activity, governance becomes genuinely responsive to ground realities. Beyond speed, India is expanding the diversity and scope of its statistical apparatus. New surveys of company capital expenditure and service sector enterprises offer a view of business investment patterns and service economy dynamics. An effort to measure household income is underway too. Also Read: Himanshu: India's economy is too complex to afford less-than-robust statistics To better leverage data, work is afoot on new frameworks to harmonize different data-sets and set standards for data quality. These initiatives reflect the fact that in today's digitally connected economy, isolated statistics can be both inefficient and ineffective. Equally welcome are efforts to roll online prices into the CPI, along with online rail fares and fuel prices. MoSPI's creation of a dedicated research analysis division signals a shift from data collection to interpretation. Working papers from this division promise to transform raw statistics into actionable intelligence. The statistical system's growing focus on user needs is even more significant. Data awareness is being enhanced through platforms like e-Sankhyiki and the GoIStats app. Our system is evolving from a distant repository of numbers into a dynamic, responsive and user-friendly ecosystem. We must keep this momentum going towards our goal of becoming an advanced economy. Yet, significant challenges remain. The push for sub-national statistics, particularly at the district level, is a frontier. India's diversity demands granular data that can inform targeted interventions rather than one-size-fits-all policies. MoSPI's initiative to modify sample designs of surveys to enable district-level estimates is encouraging. Also Read: TCA Anant: A household income survey will be valuable if clarity beats confusion The long-delayed Census looms as both an opportunity and necessity. Population data underpins virtually every aspect of government planning, from resource allocation to constituency delimitation. Delays here can cascade through the entire statistical ecosystem. Meanwhile, state-level statistical capacity needs to improve, for which we need more statisticians and data science experts at the state level. The use of AI in survey methodology and response processing can be the next leap. As traditional survey response rates decline globally, AI-assisted data collection and validation could maintain quality, reduce costs and improve speed. We still lack official seasonally-adjusted data for key indicators, which most developed countries have. The challenge of calculating GDP deflators persists, with volatile swings causing sharp differences between nominal and real values. While the government's data website and download systems have improved, navigating our data systems remains difficult, compared with the seamless experience offered by some private providers. We need an institutional system to quickly and carefully respond to data queries. More complex issues need attention too. Demand-side measures of GDP are often estimated from production-side indicators; and quarterly GDP statistics rely on an 'allocation' of annual data, rather than actual collection. Large and frequent revisions in GDP statistics remain problematic; the Indian GDP series still reports five versions. Also Read: GVA data haze: Has India been overcounting the output of its informal sector? Finally, easing micro data access for researchers to answer key questions on the Indian economy with due diligence is crucial. Stepped up R&D and innovation are a critical input for our economic progress, for which data feeds are key contributors. To speed up data modernization, we need added monetary and non-monetary resources, plus the right incentives at all levels. India's data revolution can transcend its technical aspects to redefine the relationship between the state and citizens, and between evidence and policy. When employment data is frequent, price indices capture digital transactions alongside traditional markets and administrative records smoothly integrate with survey data, the space for responsive governance expands dramatically. The true measure of this revolution will not be found in technical specifications or processing speeds, but in policy outcomes. As our statistical infrastructure matures, it promises to become one of India's most valuable public goods. Data-driven governance could then help deepen democratic accountability. It can transform how India thinks about itself and its future. The author is professor of economics, and director and head of the Isaac Center for Public Policy, Ashoka University.
Fibre2Fashion
3 days ago
- Fibre2Fashion
Trump's penalty talks create unease in Indian textile industry
In what many see as a major escalation of trade tensions, US President Donald Trump on July 30 announced a sweeping 25 per cent tariff on all goods imported from India even as India's competitors, including Pakistan, Vietnam, Bangladesh and Turkiye, were levied lower tariffs of 15-20 per cent. The move has sparked concerns across sectors in India, especially after Trump also mentioned of an additional, unspecified penalty related to India's ongoing trade relations with Russia, specifically its purchases of crude oil. US President Donald Trump announced a 25 per cent tariff on all Indian imports. The move is compounded by Trump's warning of an unspecified penalty tied to India's ongoing trade relations with Russia, particularly its purchase of crude oil. The lack of clarity around the unspecified penalty has created unease in Indian business circles, especially among apparel exporters. While the announcement was made without detailing the nature of the additional penalty, industry leaders and policymakers are concerned over its ramifications and long-term implications. Reacting to the latest development, India's Ministry of Commerce and Industry issued an official response, as reported by various media outlets. The statement emphasised that the Indian Government is closely examining the implications of the US President's announcement. 'The Government is studying its implications. India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective,' the ministry reportedly underlined. The statement also reassured stakeholders that national interests would be protected. 'The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs. The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the UK,' the ministry reportedly added. Adding another dimension, US Secretary of State Marco Rubio, just a day after Trump's tariff announcement, underlined Washington's dissatisfaction with India's continuing imports from Russia, as reported in certain sections of the media. 'India's purchase of oil from Russia is most certainly a point of irritation,' Rubio reportedly said speaking to a radio channel. Experts are thus viewing Trump's tariff imposition not just through the lens of protectionism, but as part of a broader geopolitical agenda. Some analysts believe the punitive measures reflect the US' discomfort with India's increasing strategic autonomy and its deepening economic engagement with Russia. Of particular concern to Indian exporters is the ambiguity surrounding the 'unspecified penalty' mentioned by Trump. The lack of clarity on this additional measure has created unease in the business circles. Sudhir Sekhri, chairman of the Apparel Export Promotion Council (AEPC) , reflected this sentiment, stating, 'The penalty is a grey area, and we hope the Government of India (GOI) will negotiate this with the US…' Echoing similar concerns, Rajeev Gupta, joint managing director of RSWM Ltd, earlier told Fibre2Fashion , 'Indian entrepreneurs and manufacturers are resilient, and we are confident that business momentum will be consistently rising with planned strategies. What remains crucial is clarity on the tariff position against China,' even as he added, 'A more pressing concern is the undefined penalty clause linked to India's ties with Russia, which adds a layer of uncertainty.' The timing of this development is critical, as both countries have been actively engaged in negotiations for a mutually beneficial trade agreement. India's recent efforts to diversify trade relationships, including the signing of the Comprehensive Economic and Trade Agreement (CETA) with the UK, many feel, signals a broader strategy to reduce dependence on any one market even as they added the US nonetheless remains one of India's largest trading partners, and any disruption in this relationship could have far-reaching implications for key export sectors such as textiles. 'The Free Trade Agreement with the UK opens up varied opportunities and is a welcoming move,' claimed an industry player interacting with Fibre2Fashion, who expressed apprehensions over the penalty ramifications if not sorted out soon. However, as things stand now, the Indian exporters seem to be adopting a cautious approach, a wait and watch policy to see how things unfold in the days to come as the steep duty imposed by US could hurt nearly half of India's exports, as per some estimates, adding to which is now the threat of additional penalty. Fibre2Fashion News Desk (DR)
Time of India
3 days ago
- Time of India
Pharmexcil drives global pharma trade through premier healthcare export summit
Live Events NEW DELHI: iPHEX 2025 – 11th Edition of International Exhibition and Healthcare, is scheduled from September 4–6, 2025, at Bharat Mandapam, New by the Pharmexcil Pharmaceuticals Export Promotion Council of India ), with the support of Ministry of Commerce and Industry, this premier event will convene key stakeholders from the pharmaceutical industry and allied sectors. Pharmexcil, the official export promotion body under the Ministry of Commerce & Industry, represents over 4,400 Indian pharmaceutical exporters and plays a pivotal role in advancing global trade through policy advocacy, regulatory support, and market development event will feature dedicated International Buyers Sellers Meet, a focused exhibition with over 700 stall with a strong emphasis on research & development and innovation. It will also spotlight India's leading pharmaceutical exporters—across formulations, biosimilars, bulk drugs, and surgical—who are serving healthcare needs in over 150 countries. These capabilities will be showcased through the flagship International Exhibition on Pharmaceuticals and Healthcare (iPHEX. Since its inception in 2013, iPHEX has hosted over 5,000 foreign delegates, including regulators and buyers, and featured more than 4,000 Indian exhibitors across key cities like Mumbai, Hyderabad, New Delhi, and Ahmedabad. As a cornerstone of the Brand India Pharma campaign, the exhibition strengthens India's positioning as the 'Pharmacy of the World' by enabling focused B2B meetings, regulatory dialogues, and strategic collaborations across global markets including NAFTA, EU, ASEAN, LAC, Africa, and GCC—driving expanded market access and global confidence in Indian pharmaceutical as a strategic lead-up to the 11th edition of iPHEX—India's flagship pharmaceutical export exhibition— this integrated event aims to project India's strengths in high-quality manufacturing, regulatory excellence, and global trade preparedness. Pharmexcil, which plays a pivotal role in supporting India's pharmaceutical exports (currently valued at over $30 billion annually), will facilitate B2B meetings, buyer-seller interactions, and global outreach initiatives at the venue. These efforts are intended to foster meaningful cross-border partnerships and open up new commercial Joshi, Chairman of Pharmexcil, said, in a statement, 'Now in its 11th edition, iPHEX has firmly established itself as a flagship global platform that showcases India's pharmaceutical excellence. This year, the event expands its scope to include allied segments such as pharmaceutical machinery and Ayush products—broadening its relevance and impact. iPHEX has consistently created synergy and confidence among global pharma stakeholders, offering an exclusive environment for focused one-on-one business meetings, regulatory dialogues, and strategic partnerships. Our objective is to reinforce India's position as the preferred global partner for high quality, affordable pharmaceuticals.'Vice Chairman of Pharmexcil, Bhavin Mehta , said, "With participation from regulators and buyers across NAFTA, EU, Africa, ASEAN, CIS, LAC, and WANA regions, the event facilitates deep engagement through contract manufacturing discussions, technology transfers, and bilateral trade collaborations. As a niche, high-value platform, iPHEX continues to drive market access and position India as an innovation-led, reliable force in global pharma supply chains.'K Raja Bhanu, Director General, Pharmexcil, shared,' The 11th Edition of IPHEX 2025 promises to be a pivotal event for the global pharmaceutical industry. It will bring together over 25,000 domestic visitors and 700+ pharma exhibitors, with delegates from 111+ countries. The USP of Indian Generics has always been 'Quality, affordability, and scalability.' This will continue to be foundational as we move towards 'Bharath @2030 and beyond envisioning for speciality generics, biosimilars, vaccines & biologics, personalised medicines, advanced gene therapies, and CDMO/CRO services with a market size of 150 billion USD by 2030. 'The global regulatory conclave will be organized by the Central Drugs Standard Control Organisation (CDSCO), Ministry of Health and Family Welfare, Government of India, jointly with PHARMEXCIL, and held concurrently with iPHEX 2025. This platform will foster critical regulatory dialogues, strengthen international alignment, and enhance trust in India's regulatory ecosystem. Event will include sector-specific sessions, and panel discussions on regulatory harmonization, global market expansion strategies, innovation in manufacturing, and the evolving landscape of pharma exports.A dedicated exporters participation at the exhibition, regulatory conclave, and global buyer forum will provide unmatched opportunities for knowledge-sharing, deal-making, and policy dialogue. Designed to align with India's ambition of becoming a $65 billion pharma export powerhouse by 2030, summit embodies the spirit of 'Powering Healthcare, Connecting Markets'—bringing together industry leaders, global stakeholders & policymakers to drive meaningful collaboration, unlock new trade corridors & elevate India's role in global healthcare.
