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India’s industrial output growth eases to 3.5% in October 2025 amid weaker consumer goods demand
IIP growth is estimated to have slowed to 3.
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.