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Below the Perspective on IIP data by Arsh Mogre, Economist, PL Capital 

“India’s industrial production grew by 1.5% YoY in June 2025, improving modestly from May’s 1.2% pace. The manufacturing sector remained resilient with a 3.9% expansion, led by robust performance in basic metals (9.6%), refined petroleum products (4.2%), and fabricated metal goods (15.2%). Use-based data signals healthy momentum in infrastructure and construction goods (7.2%) and intermediate goods (5.5%), while consumer durables rose 2.9%. However, mining output contracted sharply (-8.7%) and electricity declined (-2.6%), indicating supply-side volatility. Overall, the industrial sector continues to show steady, if uneven, expansion, anchored by core manufacturing strength and capex-linked demand.”

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