Infrastructure Expansion At 2.4% Y/Y, November Marks Softer Momentum

India’s eight core infrastructure sectors, which account for nearly 40% of industrial output, reported a 2.4% year-on-year growth between April and November 2025. November’s output rose 1.8%, marking a softer pace compared to earlier months. The data underscores the uneven recovery in industrial activity, with energy-related sectors dragging overall performance.

Key Highlights

• April-November infrastructure output expanded 2.4% year-on-year, reflecting moderate growth momentum
• November output rose 1.8%, slower than prior months, signaling sectoral pressures
• Coal, crude oil, and natural gas production registered declines, weighing on overall output
• Electricity generation also contracted, highlighting stress in energy supply chains
• Fertilizers, steel, and cement showed positive growth, offering resilience amid broader weakness
• Global factors, including forex volatility and trade pressures, contributed to subdued performance
• Analysts suggest infrastructure growth will remain sensitive to energy sector trends and global demand shifts

Sources: Trading Economics, Government of India Ministry of Commerce & Industry, MQL5 Economic Calendar