From India’s industrial output recording its fastest growth in nearly two years to corporate revenues holding up despite the West Asia war, the Mint’s latest macroeconomic tracker signalling a less broad-based expansion, the rapid rise in ultra-high-income taxpayers, women’s participation in rural jobs, and Apple’s iPhone shipments to India, here is this week’s news in numbers.
Uneven expansion
India’s macroeconomic scorecard weakened modestly in June, reflecting a less broad-based expansion as demand conditions softened. Data from Mint’s macroeconomic tracker (MMT) shows 8 of the 16 high-frequency indicators fell below their one-year average range in June, up from six in May.
The reading was also weaker than in February, before the West Asia war began, when five indicators were below their one-year average range. Even so, half the indicators remained at or above their recent trend, suggesting pockets of resilience persist despite growing signs of moderation.
While consumer demand indicators weakened, production activity remained resilient. Core-sector growth improved and labour-intensive exports recorded double-digit growth, indicating continued strength in parts of the economy.
Factory momentum
India's industrial output expanded at its fastest pace in nearly two years in June, supported by a favourable base and a broad-based pickup across sectors. Industrial production, measured by the Index of Industrial Production (IIP), grew 7.3% year-on-year in June, up from 5% in May and marking its strongest growth since July 2024.
Manufacturing, which accounts for nearly three-fourths of the IIP, accelerated to 7.8% from 5.2% in May. According to economists at Icra, manufacturing output growth in particular saw a sharp uptick in June 2026, contributing as much as 199 basis points of the 235-basis-points uptick in IIP growth relative to May 2026.
Billionaire club
India's club of ultra-high-income taxpayers is expanding rapidly. Data tabled in Parliament this week showed that 576 individuals reported a gross total income of ₹100 crore or more in assessment year 2025-26, the highest in the past five assessment years and nearly four times 2021-22 number.
The figures were released in response to questions on the rise in billionaires and concerns over wealth concentration. The government said it has adopted measures to promote inclusive growth and reduce income and wealth inequality through a progressive income-tax structure and higher spending on food, health, education, housing and social security. The latest data, however, underscores the sharp rise in India's highest earners.
Numbers talk
8: The number of sectors out of 19 that posted double-digit growth in India's trial Index of Services Production (ISP) in May. Another eight expanded from a year ago, signalling broad-based strength in the formal services economy.
63%: The share of person-days generated by women under the Viksit Bharat-Guarantee for Rozgar and Ajeevika Mission (Gramin) during the scheme's first 20 days, as expanded work opportunities lifted female participation, Mint reported.
₹5,520 crore: The combined outlay approved for the first two phases of the urban flood risk management programme, which will cover 18 cities across India, according to information presented in Parliament.
$5.5 billion: The amount Johnson & Johnson has offered to pay to settle tens of thousands of US lawsuits alleging its talc-based products caused ovarian cancer. The company, however, continues to deny the claim.
3%: The year-on-year decline in Apple's iPhone shipments to India in April-June, the first quarterly drop in over four years, as shortages of the iPhone 17 squeezed retail supplies, according to Counterpoint Research.
Revenue resilience
The June quarter earnings season is offering the first full glimpse of how the West Asia conflict has affected corporate India. While elevated crude oil prices had fuelled concerns over higher input costs and margin pressures, revenue growth has remained resilient even as profits lagged.
A Mint analysis of 393 companies that have reported standalone earnings so far shows aggregate total income rose 18% year-on-year in the April-June quarter of FY27, the fastest pace in at least three years. However, expenditure climbed by an even steeper 26.5%, leaving net profit broadly unchanged. Excluding financial firms, the gap widened further, with income rising 26% but profit declining nearly 20%, underscoring mounting cost pressures.
Finding their voice
Gen Z Indians emerged as a potent political force during last week's protests, which culminated in the resignation of education minister Dharmendra Pradhan. The protests underscored how the young generation can rapidly amplify grievances, organise nationwide campaigns and shape public discourse, forcing policymakers to respond more quickly. As per estimates, the country has nearly 368 million Gen Z, or nearly one in four Indians.
As this cohort enters colleges, the workforce and the electorate, issues such as education and jobs are likely to carry greater political weight. Many in this cohort are also first-time or young voters, suggesting their concerns could increasingly shape political priorities in the years ahead.