FX.co ★ India Infrastructure Output Accelerates

In March 2025, India's infrastructure output witnessed a 3.8% increase compared to the same month in the previous year. This marks an acceleration from the recently revised 3.4% growth in February and represents the seventh consecutive month of positive growth in infrastructure production. Significant gains were observed in several sectors: cement production surged by 11.6%, up from 10.8% in February; fertilizers grew by 8.8%, albeit down from 10.2%; steel increased by 7.1%, marginally up from 6.9%; and electricity saw a substantial rise of 6.2%, compared to 3.6% in the prior month. Conversely, outputs for crude oil and natural gas experienced declines, with crude oil falling by 1.9%, an improvement from a 5.2% decrease, while natural gas dropped by 12.7%, worsening from a 6% fall. Over the entire financial year of 2025, infrastructure output grew by 4.4%, which reflects a slowdown from the 7.6% expansion recorded in the previous year.