India’s Index of Eight Core Industries rose by 2 percent in July 2025 compared to the same month last year, according to provisional data released by the Ministry of Commerce & Industry. The increase was led by strong performances in steel and cement production, which surged by 12.8 percent and 11.7 percent respectively. Fertilizer and electricity also posted modest gains, while coal, crude oil, natural gas, and refinery products saw declines.
The Eight Core Industries—coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity—collectively account for 40.27 percent of the weight in the Index of Industrial Production. The cumulative growth rate for the April to July period of the 2025–26 fiscal year stood at 1.6 percent, down from 6.3 percent during the same period last year.
Coal production dropped sharply by 12.3 percent year-on-year in July, contributing to a cumulative decline of 3.1 percent for the fiscal year to date. Crude oil and natural gas also fell by 1.3 percent and 3.2 percent respectively, while refinery products slipped by 1 percent. Fertilizer output rose by 2 percent in July but remained down 2.2 percent for the April–July period.
Steel continued its upward trajectory with an 8.5 percent cumulative increase, while cement production rose 8.9 percent over the same period. Electricity generation edged up 0.5 percent in July but registered a 1 percent decline cumulatively.
The final growth rate for June 2025 was 2.2 percent. The next release of the index, covering August 2025, is scheduled for September 22.
