India’s economy maintains steady growth, with Q1FY25 real GDP expanding by 6.7% driven by rising private consumption and continued public capex. Core infrastructure shows robustness in steel and cement production. August sees record high e-way bills and double-digit railway freight growth, while ports cargo remains steady amid peak goods imports. Automobile demand is mixed. Power demand weakens, due to excess rainfall, leading to lower electricity generation and coal production. Renewable energy share hit a record high in July, led by solar and wind. Credit growth eases in August. Foreign and domestic institutional investors remain invested in India in FYTD2025 (till August) while bond yields moderate. Consumer inflation softens further. Watch for likely impacts from uneven monsoon rainfall distribution. Consensus projects a 50-bps rate cut in H2FY25.