India’s Growth Pulse: Tracking India’s Economic Momentum
-
October 2026 -
17th Issue
Publication Team
Executive Summary
India’s economic activity remained expansionary in September 2026, with the Composite PMI rising to 55.9 and core industries growth accelerating to 7.9%. However, industrial production moderated to 6.7%, while retail and wholesale inflation increased to 5.54% and 11.39%, respectively. Exports recorded growth, although the cumulative trade deficit widened to US$74.93 billion. Sectoral indicators reflected mixed trends across agriculture, manufacturing, infrastructure and energy. This edition also features a Policy Spotlight on Green Energy Corridor Phase III, focusing on transmission infrastructure and battery storage for renewable energy integration.
Key Developments
- Growth and Industry: IIP growth stood at 6.7%, while core industries growth accelerated to 7.9%. The Composite PMI rose to 55.9.
- Inflation: CPI inflation increased to 5.54%, while WPI inflation reached 11.39%.
- Financial and Fiscal Trends: Bank credit growth reached 19.4%, while the Centre’s cumulative fiscal deficit increased by 24.7% year-on-year.
- Sectoral Activity: Tractor registrations, rail freight and major-port cargo traffic recorded growth. Peak electricity demand reached 269.06 GW.
- Policy Spotlight: Green Energy Corridor Phase III, with an outlay of ₹1,86,405 crore, aims to facilitate the evacuation of 135 GW of renewable energy and expand battery storage capacity.
Key Takeaways
- Economic activity remained expansionary, although growth varied across sectors.
- Rising retail and wholesale inflation warrant continued monitoring.
- The widening cumulative trade and fiscal deficits remain important areas of concern.
- Infrastructure and logistics indicators recorded growth, while agricultural conditions remained mixed.
- Transmission infrastructure and battery storage will be important to India’s renewable energy integration.
DOWNLOAD FULL REPORT
Access the complete October 2026 edition for detailed economic indicators, sectoral analysis and the Policy Spotlight.
