Data Alert
Jan core sector growth edges down to 4.6% from 4.8% in Dec
This story was originally published at 19:01 IST on 28 February 2025
Register to read our real-time news.Informist, Friday, Feb. 28, 2025
--India Jan eight core industries' growth at 4.6% vs 4.8% in Dec
--India Apr-Jan eight core industries' growth 4.4% vs 7.8% year ago
NEW DELHI – The output of India's eight core industries rose 4.6% year-on-year in January, according to data released Friday by the commerce ministry. Core sector growth was 4.8% in December, revised higher from the provisional estimate of 4.0%, while the January 2024 print was 4.2%.
For the 10 months ended Jan. 31, core sector growth stood at 4.4% compared to 7.8% in the corresponding period of 2023-24 (Apr-Mar).
In January, core sector growth cooled somewhat due to weaker performance of steel and electricity. While steel output only rose by 3.7% year-on-year last month compared to 7.3% in December, growth in electricity production fell to 1.3% from 6.2%. Coal output rose by 4.6%, down from 5.3% in December. According to Paras Jasrai, senior economic analyst at India Ratings & Research, weaker growth in the coal and electricity sectors could be explained by lower power demand in the winter month of January due to the unusual rise in temperatures. According to the India Meteorological Department, last month was the third-warmest January in history.
Production of crude oil and natural gas shrunk in January by 1.1% and 1.5%, respectively, dragging down the headline core sector growth figure. However, output of refinery products, fertilisers, and cement grew at a faster pace.
The slight decline in January core sector growth may lead to similar movement in the month's industrial growth rate, as measured by the Index of Industrial Production, as the eight core industries make up over 40% of the IIP. In December, industrial growth had declined to 3.2% from 5.0% in November. Jasrai of India Ratings & Research sees January IIP growth, data for which will be released on Mar. 12, in the range of 3-4%.
The following tables give the year-on-year changes in the index of the eight infrastructure in January and Apr-Jan:
| January 2025 | December 2024 | January 2024 | |
| Coal | 4.6% | 5.3% | 10.6% |
| Crude oil | (-)1.1% | 0.6% | 0.6% |
| Natural gas | (-)1.5% | (-)1.8% | 5.5% |
| Refinery products | 8.3% | 2.8% | (-)4.3% |
| Fertilisers | 3.0% | 1.7% | (-)0.6% |
| Steel | 3.7% | 7.3% | 9.2% |
| Cement | 14.5% | 4.6% | 4.1% |
| Electricity | 1.3% | 6.2% | 5.7% |
| Overall | 4.6% | 4.8% | 4.2% |
| Apr-Jan | Apr-Jan | |
| 2024-25 | 2023-24 | |
| Coal | 6.0% | 12.3% |
| Crude oil | (-)2.0% | (-)0.2% |
| Natural gas | 0.5% | 5.6% |
| Refinery products | 3.3% | 3.9% |
| Fertilisers | 1.7% | 5.5% |
| Steel | 5.9% | 13.5% |
| Cement | 4.6% | 8.8% |
| Electricity | 5.0% | 6.9% |
| Overall | 4.4% | 7.8% |
Source: Ministry of Commerce and Industry
End
Reported by Siddharth Upasani
Edited by Ashish Shirke
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
