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India's Core Sector Growth Slows to 1.8% in November; Cement, Steel Shine

India's core sectors showed mixed results in November, with overall growth at 1.8%. Cement was the star performer, while steel and fertiliser also posted solid gains. However, crude oil and natural gas production continued to decline during the month. The cumulative picture for the financial year so far remains a bit uneven across these key industries.

Key Points: Core Sector Growth at 1.8% in Nov: Cement Up 14.5%, Steel Rises 6.1% | ANI

  • Cement sector leads core industries with 14.5% growth in November
  • Steel production shows robust 6.1% annual growth in November
  • Fertiliser output grows 5.6%, indicating strong agricultural demand
  • Coal production rises 2.1% but remains in negative territory cumulatively
  • Crude oil, natural gas, and electricity generation contract in November, weighing on overall index
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India's core sector grows at 1.8% in Nov; cement, steel, fertiliser and coal in positive territory

India's eight core industries' output grew 1.8% in Nov 2025. Cement & steel saw robust growth, while crude oil, natural gas & electricity output contracted. Full data analysis.

"The combined Index of Eight Core Industries (ICI) increased by 1.8% in November as compared to the same period last year. - Ministry of Commerce and Industry"

New Delhi, December 22

The combined Index of Eight Core Industries (ICI) increased by 1.8% in November as compared to the same period last year, data released by the Ministry of Commerce and Industry said on Monday. The production of cement, steel, fertiliser and coal recorded positive growth in November 2025, it said.

Crude oil production recorded a contraction of 3.2% in November compared to the year-ago period. The cumulative crude oil index has declined by 1.3% in the current financial year so far.

Natural gas output fell by 2.5% year-on-year in November 2025, continuing its downward trend. Cumulatively, natural gas production declined by 3% during April-November 2025-26.

Petroleum refinery products, the largest component of the core industries index saw a decline of 0.9% in November. Despite a monthly decline, refinery output posted marginal cumulative growth of 0.2% during the period under review.

Fertiliser production registered a strong growth of 5.6% in November 2025. On a cumulative basis, fertiliser output increased by 1.3% during April-November 2025-26.

Steel production rose by 6.1% in November, reflecting robust performance in the sector. The cumulative steel index recorded a strong growth of 9.7% during the April-November 2025-26 period.

Cement emerged as the best-performing segment, recording the highest year-on-year growth of 14.5% in November 2025. Its cumulative index has increased by 8.2% in the current financial year so far.

Electricity generation declined by 2.2% in November 2025 compared to the same month last year. Cumulatively, electricity output slipped by 0.3% during April-November 2025-26.

- ANI

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Reader Comments

P
Priya S
Good to see steel and fertiliser doing well. But the decline in crude oil and natural gas is a serious concern. We are still too dependent on imports for our energy needs. We need to fast-track exploration and green energy projects.
A
Aman W
The overall 1.8% growth seems modest, but the mix is worrying. Electricity generation is down? In November? That's unusual. Hope this doesn't lead to power shortages in the coming summer months. The focus should be on consistent power supply.
S
Sarah B
Strong fertiliser production growth of 5.6% is excellent news for the upcoming Rabi season. This should help keep input costs in check for our farmers. Hopefully, this translates to stable food prices.
V
Vikram M
While the headline number is positive, we must look deeper. The contraction in crude and gas, which are critical imports, hurts our forex and trade deficit. The government's push for EVs and renewables cannot come soon enough. Jai Hind!
K
Kavya N
As someone from a manufacturing background, the steel growth is very encouraging. It shows demand from auto, capital goods, and construction is holding up. But the decline in refinery products is a slight red flag for overall industrial demand.

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