New Delhi: India’s core sector output expanded by 1.8% year-on-year in November 2025, reversing a marginal contraction recorded in the previous month, according to data released by the Ministry of Commerce and Industry on Sunday.
The Index of Eight Core Industries (ICI), which accounts for over 40% of the weight of the Index of Industrial Production (IIP), was supported by robust growth in cement, steel, fertilisers and coal production. Cement output surged 14.5% in November, while steel production rose 6.1% and fertiliser output increased 5.6% compared with the same month last year.
Coal production grew 2.1% during the month, providing additional support to the overall index. However, output in key energy segments remained weak, with crude oil production declining 3.2%, natural gas falling 2.5%, and electricity generation contracting 2.2% year-on-year.
Refinery products, which carry the highest weight in the index, slipped 0.9% in November, limiting the overall pace of expansion. The final core sector growth for October 2025 was revised to a contraction of 0.1%.
On a cumulative basis, core industries grew 2.4% during April–November 2025-26, compared with the same period last year. While steel and cement recorded strong cumulative growth of 9.7% and 8.2% respectively, crude oil, natural gas and electricity continued to drag overall performance.
Economists track the core sector closely as a lead indicator for broader industrial activity, with the November recovery suggesting gradual improvement in construction-linked segments amid uneven momentum in energy production.