Core Infrastructure Output Rises Modestly In November On Cement And Steel Strength

India’s core infrastructure output registered a modest expansion of 1.8 per cent in November 2025, buoyed by strong gains in cement, steel, fertilisers and coal, according to official data released on Monday.

The improvement comes amid uneven performance across key energy and manufacturing-linked segments.

The Index of Eight Core Industries (ICI) tracks production trends in coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.

Together, these sectors carry a weight of 40.27 per cent in the Index of Industrial Production (IIP), making them a crucial barometer of overall industrial health.

Among the eight sectors, cement emerged as the strongest performer in November, recording a sharp year-on-year rise of 14.5 per cent.

Steel production also showed robust momentum, growing 6.1 per cent, while fertiliser output increased by 5.6 per cent. Coal production edged up by 2.1 per cent, offering limited support to the overall index.

However, the gains were partially offset by weakness in energy-related sectors. Crude oil production declined by 3.2 per cent, natural gas output fell 2.5 per cent and petroleum refinery products contracted marginally by 0.9 per cent. Electricity generation also slipped by 2.2 per cent during the month.

Revised October Data

Officials revised the final growth figure for October 2025 slightly upwards to 0.1 per cent from a provisional 14-month low, indicating marginal stabilisation after a prolonged slowdown.

On a cumulative basis, core sector output expanded by 2.4 per cent during April–November 2025-26 compared with the same period last year.

Steel and cement remained the standout performers, posting growth of 9.7 per cent and 8.2 per cent, respectively. Fertiliser production rose by 1.3 per cent, while refinery products recorded a modest increase of 0.2 per cent.

In contrast, coal, crude oil, natural gas and electricity continued to underperform on a cumulative basis, registering declines of 1.4 per cent, 1.3 per cent, 3.0 per cent and 0.3 per cent, respectively.

Economists note that sustained strength in construction-linked sectors such as cement and steel reflects steady infrastructure demand.

However, persistent weakness in energy production remains a concern and could weigh on broader industrial recovery if not addressed in the coming months.

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