India's IIP growth slowed to 6.7 per cent in July 2026 from an upward revised 8.8 per cent in June, above ICRA's 6.3 per cent estimate. Manufacturing eased to 7.3 per cent, though eight of 23 sub-sectors grew in double digits, giving apparel supply chains mixed signals. Five of six use-based segments weakened; capital goods still posted a fourth straight double-digit rise at 16.1 per cent.