India, Oct. 18 -- Every three months, the Reserve Bank of India (RBI) studies the actual, audited financial results of thousands of listed companies to assess how India's businesses are performing, and what their books show. Its latest report, released this August covers the April-toJune 2026 quarter, which has some genuinely encouraging news about Indian manufacturing sector.

The RBI looked at more than 1,800 listed manufacturing companies, ones that make cars, machinery, electrical equipment, chemicals and much else, and found that their combined sales grew 21.4% compared to the same three months last year. Put simply: for every Rs 100 worth of goods these companies sold last year, they sold roughly Rs 121 worth this year.

This reveal...