India’s Index of Eight Core Industries (ICI) registered a growth of 2.9% in February 2025 compared to the same month last year, according to data released by the Ministry of Commerce & Industry. The index tracks the performance of eight crucial industries that contribute 40.27% to the Index of Industrial Production (IIP).
The growth in February was largely supported by a sharp rise in Cement and Fertilizer production, alongside moderate gains in Steel, Electricity, Coal, and Refinery Products. The sectors that pulled the index down were Crude Oil and Natural Gas, both recording significant year-on-year contractions.
In February 2025, Cement production grew by 10.5%, Fertilizers by 10.2%, Steel by 5.6%, Electricity by 2.8%, Coal by 1.7%, and Refinery Products by 0.8%. However, Crude Oil production declined by 5.2%, and Natural Gas output fell by 6.0% compared to February 2024.
The cumulative growth rate for the April–February period of FY2024–25 stands at 4.4%, a slowdown compared to the 7.8% expansion recorded in the same period the previous year. The final growth figure for November 2024 was revised to 5.8%.
The Index of Eight Core Industries serves as a key indicator of industrial activity in the country and helps gauge the overall economic momentum. The next release, covering March 2025 data, is scheduled for April 30, 2025.
