Data Alert
Nov eight core industries' growth rises to 1.8% from (-)0.1% Oct
This story was originally published at 17:33 IST on 22 December 2025
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--India Nov eight core industries' growth 1.8%
--India Nov eight core industries' growth 1.8% vs (-)0.1% in Oct
--India Apr-Nov eight core industries' growth 2.4% vs 4.4% year ago
NEW DELHI – The output of India's eight core industries grew 1.8% on year in November, against a fall in the previous month, because of better performance of the cement and steel sectors, data released Monday by the commerce ministry showed.
Factory output had grown 5.8% in November 2024 and the October print was revised lower to (-)0.1% from the provisional estimate of 0.0%. The rise in growth of factory output was also aided by a low base effect. On a sequential basis, the index of eight core industries fell 0.2% in November.
In the first eight months of the current financial year, core sector output has grown 2.4%, lower than 4.4% in the same period a year ago.
Production of only four of the eight core industries rose on year in November. The output of cement grew at 14.5% on year in November, the quickest in two years. Cement sector output had risen 5.2% in October and 13.1% in November last year.
Steel sector output grew 6.1% on year in November, quicker than 5.9% in the previous month. Fertiliser sector output rose 5.6% last month compared with 7.4% in October. Coal was the fourth sector where output grew in November, up 2.1% from a year ago against a contraction of 8.5% in October.
Crude oil output fell the most in November at 3.2%, followed by natural gas, where production was down 2.5%. "The oil complex witnessed negative growth in crude oil, natural gas and refinery products. This is normally the case when crude oil price is low in international market where domestic production slows down given the cost," Bank of Baroda Chief Economist Madan Sabnavis said in a note.
The rise in growth in core sector output could push IIP growth higher for November from 0.4% in October. The eight core industries have a combined weight of 40.3% in the IIP. Bank of Baroda estimates IIP growth to rise to 2.5-3% in November.
The following tables give the year-on-year changes in the index of the eight infrastructure sectors in November:
| November 2025 | October 2025 | November 2024 | |
| Coal | 2.1% | (-)8.5% | 7.5% |
| Crude oil | (-)3.2% | (-)1.2% | (-)2.1% |
| Natural gas | (-)2.5% | (-)5.0% | (-)1.9% |
| Refinery products | (-)0.9% | 4.6% | 2.9% |
| Fertilisers | 5.6% | 7.4% | 2.0% |
| Steel | 6.1% | 5.9% | 10.5% |
| Cement | 14.5% | 5.2% | 13.1% |
| Electricity | (-)2.2% | (-)6.9% | 4.4% |
| Overall | 1.8% | (-)0.1% | 5.8% |
| Apr-Nov 2025-26 | Apr-Nov 2024-25 | |
| Coal | (-)1.4% | 6.4% |
| Crude oil | (-)1.3% | (-)2.3% |
| Natural gas | (-)3.0% | 1.1% |
| Refinery products | 0.2% | 2.8% |
| Fertilisers | 1.3% | 1.6% |
| Steel | 9.7% | 6.7% |
| Cement | 8.2% | 3.1% |
| Electricity | (-)0.3% | 5.3% |
| Overall | 2.4% | 4.4% |
Source: Ministry of Commerce and Industry
End
Reported by Shubham Rana
Edited by Vandana Hingorani
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