Cement and Steel Boom Lifts India’s Infra Index 2.3% in February

India’s foundational industries delivered mixed results in February, with the Index of Eight Core Sectors rising 2.3 percent annually, propelled by sharp gains in cement and steel amid a construction frenzy. Official figures from the Commerce Ministry highlight cement’s stellar 9.3 percent surge and steel’s 7.2 percent rise, linked directly to New Delhi’s multi-trillion rupee infrastructure blitz. Positive momentum extended to coal (up 2.3 percent), power (0.5 percent), and fertilizers (3.4 percent), the latter aided by robust winter crop planting. Challenges persist in hydrocarbons: crude oil output fell as legacy wells deplete. Contextually, this tempers January’s 4.7 percent print, with FYTD growth at 2.9 percent through February. Representing over 40 percent of IIP, these sectors underscore India’s industrial pulse—vital for GDP trajectory and job creation.