Freight Traffic Growth Hit; Is Slowdown On The Cards?
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A DECLARATION in freight traffic growth on Indian Railways might be a harbinger of an economic slowdown. Projected to grow 3.26% in FY25, from 14.9% two years ago, the drop reflects waning demand for coal, iron ore, cement and petroleum, which collectively make up over 80% of rail cargo. Coal, half of rail freight, is expected to see growth slow to 4.9%, from 8.2% last year, due to softer demand for power and steel. A combination of reduced government capex and high base of 2023 is further stalling momentum in sectors such as construction and manufacturing. As railways mirror the pulse of industrial traction, it seems the once-steady drivers of growth are now losing steam.
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August 2025
As India continues to be the world’s fastest-growing major economy, Fortune India presents its special issue on the nation’s Top 100 Billionaires. Curated in partnership with Waterfield Advisors, this year’s list reflects a slight decline in the number of dollar billionaires—from 185 to 182—even as the entry threshold for the Top 100 rose to ₹24,283 crore, up from ₹22,739 crore last year. From stalwarts like Mukesh Ambani, Gautam Adani, and the Mistry family, who continue to lead the list, to major gainers such as Sunil Mittal and Kumar Mangalam Birla, the issue goes beyond the numbers to explore the resilience, ambition, and strategic foresight that define India’s wealth creators. Read their compelling stories in the latest issue of Fortune India. On stands now.