India's economic landscape presents a picture of resilience and strategic development, even as some sectors face headwinds and global markets exhibit caution. The nation's economy expanded by a robust 7% in the July-September quarter and is projected to achieve a 6.8% growth rate for the entire financial year. Union Minister Ashwini Vaishnaw reaffirmed India's commitment to maintaining a stable policy environment, fostering growth, and keeping inflation moderate, actively inviting global investors to participate in the country's economic journey. This sentiment was echoed by Piyush Goyal, who highlighted India's strong economic fundamentals, including high growth, low inflation, record foreign exchange reserves of approximately $700 billion, and substantial infrastructure investment exceeding $130 billion annually.

Core Industries Show Mixed Performance

The Index of Eight Core Industries (ICI) for October 2025 remained unchanged at 162.4 compared to the same month last year, indicating a static overall performance in these foundational sectors. While vital sectors such as Fertilizers, Steel, Cement, and Petroleum Refinery Products registered positive growth, these gains were counterbalanced by declines in Coal, Crude Oil, Natural Gas, and Electricity production. Specifically, Coal production experienced a sharp decline of 8.5%, Crude oil output fell by 1.2%, Natural gas production saw a 5% decrease, and Electricity generation dropped by 7.6% in October 2025 compared to the previous year. Conversely, Petroleum refinery production rose by 4.6%, and Cement production grew by 5.3%, driven by ongoing infrastructure and housing projects.

Maritime Sector Poised for Significant Investment

Prime Minister Narendra Modi has called upon international companies to invest in India's burgeoning maritime sector, highlighting the nation's advancements in infrastructure, innovation, and regulatory reforms. Significant improvements include a near-doubling of port capacity from 1,400 to 2,762 million metric tons per annum (MMTPA) and a surge in cargo handling from 972 to 1,594 MMT. Furthermore, vessel turnaround time has been dramatically reduced from 93 hours to 48 hours. Five key legislative reforms, including the Indian Ports Bill (2025), have been enacted to modernize maritime governance. Initiatives like the Shipbuilding Assistance Scheme and Maritime Development Fund are projected to attract investments exceeding ₹4.5 lakh crore, fostering the production of over 2,500 vessels.

Trade Challenges and Market Dynamics

Despite the domestic growth narrative, Indian exporters are grappling with intense competition from cheaper Chinese products, which are increasingly dominating various markets and putting pressure on profit margins. In October, India's goods exports to non-U.S. markets witnessed a 12.5% fall compared to the previous year. On the stock market front, Indian benchmark indices Sensex and Nifty closed higher on Thursday, buoyed by strong performances in the Financials and Oil & Gas sectors. However, the GIFT Nifty indicated a lower start for Indian equities on Friday, reflecting cautious global sentiment following a sell-off in AI stocks and mixed U.S. labor market data. Brokerages continue to show bullish outlooks for specific stocks such as Adani Enterprises, Hero Motocorp, and Reliance Industries.

Other Key Developments

In other news, the first leg of the "Earth Summit 2025–26" commenced in Hyderabad, focusing on critical areas like rural innovation, finance, agriculture, and climate action. Additionally, Union Minister Piyush Goyal engaged in discussions with Israel's Finance Minister to enhance bilateral economic ties.