Core sector growth slows to 5.4% in July, cement leads

India’s core industrial sector grew 5.4% in July 2026, down from an upwardly revised 6% in June, according to data released Thursday by the Ministry of Commerce and Industry. The Times of India reports that growth was a sharp rise from 3.2% a year ago, with cement and iron ore driving expansion. The Hindu notes that July’s growth was still the second-fastest in seven months under a new index series launched last month with a revised base year of 2022-23.

The cement sector grew 13.1% in July on sustained government capex, while electricity generation grew 9% despite a heat wave and weak monsoon. Iron ore output rose 29.5% on a low base, and coal hit an 11-month high of 7.6% growth. Steel sector growth slowed to 2.9%, the lowest in 14 months. Fertilisers contracted 8% due to patchy monsoon, while natural gas and crude oil continued 14-month contraction streaks. Refinery products snapped a three-month contraction by growing 2.7%. The next month’s data will show if West Asia hostilities further impact energy output.