India's core sector growth slows to 2.9% in Feb, dragged by crude oil, gas
New Delhi: India's core sector growth eased to 2.9% in February, down from 4.6% in January 2025, according to official data released on Friday.
Sectors such as cement, fertilisers, steel, electricity, coal, and refinery products posted positive growth last month. Coal production edged up by 1.7%, moderating from January’s 4.6% growth.
Crude oil output contracted by 5.2%, deepening from a 1.1% decline in the previous month, while natural gas production fell by 6%, compared to a 1.5% drop in January.
Petroleum refinery output saw a sharp slowdown, growing just 0.8% in February after an 8.3% expansion in January.
Fertiliser production, however, surged 10.2%, up from 3% in the preceding month.
Steel output grew by 5.6%, improving from January’s 3% increase.
Cement production saw a strong 10.5% rise, while electricity generation increased by 2.8%.
For the April-February period of the 2024-25 fiscal year, the cumulative Index of Core Industries (ICI) growth stood at 4.4% on a provisional basis, compared to the same period last year.
The ICI tracks the performance of eight key industries—coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity—which together account for 40.27% of the weight in the Index of Industrial Production (IIP).
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