Data Alert
July eight core industries' growth drops to 2% from 2.2% in June
This story was originally published at 18:43 IST on 20 August 2025
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--India Apr-Jul eight core industries' growth 1.6% vs 6.3% year ago
--India Jul eight core industries' growth 2.0% vs 2.2% in Jun
NEW DELHI – Growth in output of India's eight core industries fell to 2.0% in July because of contraction in production of coal, crude oil, natural gas, and refinery products, data released Wednesday by the commerce ministry showed.
Core sector growth was 6.3% a year ago and the June print was revised higher to 2.2% from the provisional estimate of 1.7%. On a sequential basis, the index of core industries fell 0.7% in July.
In the first four months of the current financial year, core sector ouptut grew 1.6%, much lower than 6.3% in the same period a year ago.
The output of coal contracted 12.3% on year in July, the biggest fall since June 2020. Crude oil output fell 1.3% on year compared with a 1.2?cline in June. Natural gas production fell 3.2% on year in July compared with 2.8?ll in the previous month, and refinery products fell 1.0% last month compared with a 3.4% rise in June.
Steel and cement were the only sectors where output grew at a quicker pace in July compared with the previous month. Steel sector output grew 12.8% on year in July, the quickest rate of growth in 21 months. The output of cement sector grew at a four-month high pace of 11.7% in July. "This reflects the impact of steady government capex (capital expenditure)," said Paras Jasrai, associate director at India Ratings and Research, in a note.
Fertiliser sector output rose on year for the first time in four months in July. It rose 2.0% on year last month after contracting 1.2% on year in June.
"The low growth in infrastructure sector output is expected to keep the IIP growth at around 2% yoy in July 2025," Jasrai said. The eight core industries have a combined weight of 40.3% in the IIP. "The daily power generation was up 5.2% yoy as of 19 August 2025. This along with a favourable base effect would keep the core sector output growth at around 5% yoy in August 2025."
The following tables give the year-on-year changes in the index of the eight infrastructure sectors in July:
| July 2025 |
June 2025 |
July 2024 |
|
| Coal | (-)12.3% | (-)6.8% | 6.8% |
| Crude oil | (-)1.3% | (-)1.2% | (-)2.9% |
| Natural gas | (-)3.2% | (-)2.8% | (-)1.3% |
| Refinery products | (-)1.0% | 3.4% | 6.6% |
| Fertilisers | 2.0% | (-)1.2% | 5.3% |
| Steel | 12.8% | 9.7% | 7.0% |
| Cement | 11.7% | 8.2% | 5.1% |
| Electricity | 0.5% | (-)1.2% | 7.9% |
| Overall | 2.0% | 2.2% | 6.3% |
| Apr-Jul 2025-26 |
Apr-Jul 2024-25 |
|
| Coal | (-)3.1% | 9.9% |
| Crude oil | (-)1.7% | (-)1.3% |
| Natural gas | (-)2.6% | 4.3% |
| Refinery products | (-)0.3% | 2.4% |
| Fertilisers | (-)2.2% | 1.3% |
| Steel | 8.5% | 8.0% |
| Cement | 8.9% | 1.5% |
| Electricity | (-)1.0% | 10.1% |
| Overall | 1.6% | 6.3% |
End
Reported by Krity Ambey and Shubham Rana
Edited by Akul Nishant Akhoury
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