FX.co ★ India Infrastructure Output Rebounds

In November 2025, India's infrastructure output saw a 1.8% increase compared to the previous year, recovering from a revised 0.1% decrease in the preceding month, which had marked the first decline in over a year. This uptick in the infrastructure sector, which constitutes nearly 40% of India's overall industrial production, suggests that the reduction in capacity, attributed to the recent increase in US tariffs, was temporary. This aligns with other indicators that suggest some resilience among goods producers. Notably, there was significant growth in cement production, which surged by 14.5% compared to 5.2% in October, and steel output, which grew by 6.1% after a 5.9% increase previously, marking a strong month for construction inputs. Additionally, coal production rebounded with a 2.1% increase, as opposed to an 8.5% decline earlier. However, output in other energy sectors declined, with crude oil and natural gas experiencing contractions of 3.2% and 2.5% respectively, continuing their streak of reduced output.