The industrial production in India expanded by 3.5% in July of 2025, picking up sharply from the 1.5% increase in the previous month, and firmly above market expectations of a 2.1% expansion. The result supported the strong momentum for the Indian economy ahead of the aggressive tariffs placed by the US government in August. Output growth was carried by manufacturing (5.4% vs 3.7% in June) and a rebound for electricity generation (0.6% vs -1.2%). In turn, output for miners contracted at a softer pace (-7.2% vs .8.7%).