The Indian Economy Continues to Grow Steadily in July

But not too fast to generate worries of capacity pressure

The First Data on Economic Activity Levels in India - Every Month
The only survey with current month, month-on-month, monthly year-on-year, and forward looking questions
Updated: July 24, 2025

In July Indian Sales Managers reported another month of considerable economic expansion. All Indexes remained over the 50 "no growth" level, in most cases more than comfortably over.

The Market Growth Index is in pole position standing alone at a 62 month high, reflecting the secure position from which the majority of sales managers now view their expanding markets.

Note: Data Shown as a Diffusion Index. (50 = 'No Change', above 50 = Increasing growth, below 50 = Declining growth)

Business Confidence remained high reflecting not just the present situation, but Sales Managers optimism over the outlook for the next half year.

Potentially bad news came in with the July Price Index, which remains a little too high for comfort. But a continuing low level of market pressure on human resources reflected by the Jobs Index suggests that economic activity is still likely to be firmly rooted in a stable environment, rather than in an out of control boom.

Sales Managers Index Components

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About the Sales Managers Indexes

The Sales Managers' Indexes provide the earliest monthly data on the speed and direction of economic activity in key growth areas of the world.

The SMI’s (Sales Managers’ Indexes) are compiled and analysed by World Economics and are based on survey data collected from a panel of companies stratifying all Industry Classification Board (ICB) sectors which are weighted to reflect their contribution to national Gross Domestic Product.

Key advantages of the SMI's:

• The SMI's provide the first indication each month of the speed and direction of economic growth.
• The SMI's provide the most complete indication of growth, covering all private sector activity.
• The SMI's are based on a key occupational group - sales executives - uniquely able to sense accurate changes in business activity levels.
• The SMI survey base - salespeople - are used by virtually all businesses, including in frontier markets, unlike other occupational groups.
• The SMI's focus on the key countries contributing to over 60% of global growth in recent years.