Kamal Ghorui
Growth in India’s eight core infrastructure industries eased to 2.3 per cent in February, down from 3.4 per cent in the same month last year, reflecting weakness in energy-linked segments even as output expanded in several manufacturing-oriented sectors.According to official data, production of crude oil, natural gas and petroleum refinery products declined during the month, moderating the overall expansion in the core sector basket. The eight industries together account for 40.27 per cent of the weight in the Index of Industrial Production (IIP).The combined Index of Eight Core Industries (ICI) rose 2.3 per cent (provisional) year-on-year in February 2026, the Ministry of Commerce and Industry said in a release, noting that cement, steel, fertilisers, coal and electricity recorded positive growth during the month.During April–February of FY26, cumulative growth in core infrastructure output stood at 2.9 per cent, compared with 4.4 per cent in the corresponding period of the previous financial year, indicating a broader slowdown in momentum.“The final growth rate of Index of Eight Core Industries for January 2026 was observed at 4.7 per cent. The cumulative growth rate of ICI during April to February, 2025-26 is 2.9 per cent (provisional) as compared to the corresponding period of last year,” the release said.Coal production — carrying a 10.33 per cent weight — increased 2.3 per cent in February over the same month last year. However, its cumulative index remained unchanged at 185.8 during April–February FY26.Crude oil output (8.98 per cent weight) declined 5.2 per cent year-on-year in February, while the cumulative index contracted 2.5 per cent over the April–February period.Similarly, natural gas production (6.88 per cent weight) fell 5.0 per cent during the month, with its cumulative index slipping 3.5 per cent compared with the year-ago period.Production of petroleum refinery products (28.04 per cent weight) declined 1.0 per cent in February and remained marginally lower — by 0.1 per cent cumulatively — during the first eleven months of the fiscal.Among the growth drivers, fertiliser output (2.63 per cent weight) rose 3.4 per cent year-on-year in February and recorded 2.0 per cent cumulative growth during April–February.Steel production — with a 17.92 per cent weight — posted a strong 7.2 per cent increase in February, while cumulative growth stood at 9.7 per cent.Cement output (5.37 per cent weight) expanded 9.3 per cent during the month and recorded 9.2 per cent growth cumulatively over the fiscal period under review.Electricity generation (19.85 per cent weight) increased 0.5 per cent year-on-year in February and registered 0.9 per cent cumulative growth during April–February.The data indicates that while construction-linked and industrial segments continue to lend support, the contraction in energy-related sectors remains a key drag on overall core infrastructure output.(With inputs from Agencies)
