FX.co ★ India’s Manufacturing Growth Cools in September, Easing to 7.6% Month-on-Month

India’s manufacturing sector saw a moderation in growth in September 2026, with output rising 7.6% month-on-month, down from a robust 9.0% expansion in August 2026, according to data updated on 28 October 2026.

The latest reading indicates that while the sector continues to expand at a solid pace, the momentum has eased compared with the previous month. On a month-over-month basis, the September figure reflects a slower rate of increase in manufacturing activity than in August, when output growth had been stronger relative to July.

The comparison underscores a shift from very rapid expansion to more measured, though still elevated, growth in manufacturing. The “actual” September data measure the change versus August, while the “previous” August figure captured the change against July, highlighting the cooling, but ongoing, positive trend in India’s industrial performance.