West Asia and Ukraine wars push freight rates higher Pilbara iron ore milestone strengthens global steel supply U.S. steel scrap market sees firmer pricing trend Core sector growth rises to 1.7% in April 2026
India’s eight core infrastructure industries recorded a 1.7% growth in April 2026, marking a two-month high driven mainly by robust steel, cement, and electricity production. Government data showed steel output rising 6.2% year-on-year, while cement production surged 9.4%, reflecting sustained momentum in infrastructure and construction activity across the country.
The growth in the Index of Core Industries (ICI), which represents over 40% of the Index of Industrial Production (IIP), improved from 1.2% growth recorded in March. Electricity generation also increased 4.1% during the month, supporting overall industrial expansion. However, the broader growth was partially offset by declines in coal, crude oil, natural gas, refinery products, and fertilizer output.
Industry analysts believe the continued rise in steel and cement demand highlights ongoing government infrastructure spending and stable construction activity. The latest data signals resilience in India’s industrial economy despite global energy volatility and supply chain pressures affecting several sectors.
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