According to the latest monthly report by Dun & Bradstreet, India’s Index of Industrial Production (IIP) growth decelerated to an estimated 3.5% year-on-year in October 2025, down from 4.0% in September. The slowdown was attributed to weak performance in non-durable consumer goods production, inventory overhang and softer export demand. At the same time, wholesale price inflation (WPI) moved into negative territory at -1.0%, while bank credit growth dropped to about 9.8%. The report noted that despite the moderation, domestic demand and strategic trade diversification supported resilience in the broader economy.