India’s infrastructure output rose by 4.0% year-on-year in January 2026, easing from an upwardly revised 4.7% in December, an 11‑month high, but still marking a third consecutive month of expansion. Growth remained largely driven by construction-related raw materials, with strong gains in steel (9.9% vs 10.1% previously) and cement (10.7% vs 13.7%).
At the same time, output growth slowed in electricity (3.8% vs 6.3%), fertilizers (3.7% vs 4.1%), and coal (3.1% vs 3.6%). By contrast, production declined further in natural gas (-5.0% vs -4.4%) and crude oil (-5.8% vs -5.6%), while output of refined petroleum products was flat (vs -1% earlier). The sector remained under pressure as sourcing raw materials from Russia came under increased scrutiny following US sanctions.
