India’s industrial sector recorded modest growth in April 2025, as the combined Index of Eight Core Industries (ICI) saw a 0.5% increase compared to the previous year. While segments such as cement, coal, steel, electricity, and natural gas registered positive growth, sectors like crude oil, petroleum refinery products, and fertilizers faced a decline.
The Eight Core Industries, which constitute 40.27% of the Index of Industrial Production (IIP), are key indicators of India’s economic health. The latest data reveals that coal production rose by 3.5%, marking continued expansion in the energy sector. Meanwhile, steel production saw a 3.0% uptick, reflecting stability in the infrastructure and manufacturing industries.
Cement production registered the highest growth rate, surging by 6.7%, driven by robust demand in construction and real estate. Electricity generation also increased, albeit modestly, by 1.0%, reinforcing the steady expansion of power availability across industries and households.
Crude oil production, however, witnessed a 2.8% decline, contributing to the overall sluggish performance of India’s petroleum sector. Petroleum refinery products also dropped by 4.5%, signaling weaker throughput despite the industry’s cumulative 2.8% increase over the full fiscal year.
Fertilizer production contracted by 4.2%, reflecting possible supply-chain disruptions or lower demand cycles. Natural gas production showed a minor 0.4% growth, highlighting incremental improvements in domestic extraction efforts.
On a broader scale, the cumulative growth rate of ICI between April 2024 and March 2025 stood at 4.5%, indicating moderate expansion over the past financial year. The final growth rate for January 2025 was confirmed at 5.1%, reflecting stronger industrial output at the start of the year.
The upcoming release for May 2025, scheduled for June 20, 2025, will provide further insights into sectoral momentum, particularly in light of evolving global energy demands, domestic infrastructure investments, and policy interventions supporting industrial expansion. The provisional data will undergo further refinements as updated statistics are received from source agencies.
The trends observed in India’s core industries underscore the country’s ongoing economic adjustments, balancing industrial recovery with global market fluctuations, energy transitions, and production recalibrations. The latest figures reinforce the nation’s trajectory toward sustained industrial resilience, with key sectors driving growth and stability.
