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Informist, Wednesday, May 20, 2026

 

--India Apr eight core industries' growth 1.7% vs 1.2% in Mar

 

NEW DELHI – The output of India's eight core industries grew 1.7% on year in April, led by the cement, steel, and electricity sectors, data released Wednesday by the commerce ministry showed. Despite the rise in year-on-year growth, five of the eight core sectors saw a fall in output, reflecting the impact of the war in West Asia.

 

The March print of growth in eight core industries was also revised higher to 1.2% from the provisional (-)0.4%. The higher revision was mainly on the back of an upward revision in steel production output. Factory output had grown 1.0% in April 2025. Sequentially, the index of eight core industries declined 10.3% in April, the biggest on-month fall in a year.

 

The cement sector was the best performer among the eight, with the output rising 9.4% in April, the fastest growth in three months. Electricity production rose at the highest pace in three months to 4.1% in April from 0.8% a month ago.

 

While the steel sector output saw the second-highest growth in April among the eight industries, the 6.2% growth was slower 7.7% in March. The March print for steel sector output growth was raised from the provisional estimate of 2.2%.

 

"Notably, as many as five of the eight sectors registered a contraction in output in the month, barring steel, cement, and electricity generation, suggesting that economic activity in some sectors was impacted by the West Asia crisis," Rahul Agrawal, senior economist at ICRA, said in a note. 

 

India is currently experiencing its worst energy crisis in decades following the closure of the strategically important Strait of Hormuz. The shutdown of the narrow waterway has hit supply chains, resulting in higher costs of crude oil, natural gas, raw materials, fertilisers, and food prices. 

 

Among the eight industries, the coal sector was the worst hit. The sector reported an 8.7% on-year decline in production in April, the biggest fall in nine months. Crude oil production growth declined 3.9% in April, a narrower fall from 5.7% in March.

 

In April, the natural gas production fell 4.3% on year against a growth of 6.4% a month ago, reflecting the enlarging impact of the war in West Asia. Refinery production contracted 0.5% on year in April against a growth of 0.1% in March. Fertiliser production, which fell 24.6% in March, contracted 8.6% in April.

 

"This (Core industries data) is likely to reflect in tepid IIP (Index of Industrial Production) growth in April 2026, for which data will be released (on Jun. 1) on the much awaited new base," Agrawal said. The eight core industries have a combined weight of 40.3% in the IIP.

 

The following tables give the year-on-year changes in the index of the eight infrastructure sectors in April:

 

	April 2026	March 2026	April 2025
Coal	(-)8.7%	(-)4.0%	3.5%
Crude oil	(-)3.9%	(-)5.7%	(-)2.8%
Natural gas	(-)4.3%	6.4%	(-)0.9%
Refinery products	(-)0.5%	0.1%	(-)4.5%
Fertilisers	(-)8.6%	(-)24.6%	(-)4.2%
Steel	6.2%	7.7%	4.4%
Cement	9.4%	4.7%	6.3%
Electricity	4.1%	0.8%	1.7%
Overall	1.7%	1.2%	1.0%

 

End

 

Reported by Shweta

Edited by Akul Nishant Akhoury

 

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