Infrastructure Sector Growth Slows Down in November 2024

The growth of eight key infrastructure sectors in November 2024 declined to 4.3% from 7.9% a year prior. All sectors except cement, which saw a 13% rise, showed slowed growth or contractions, highlighting challenges in the crude oil and natural gas sectors.

The growth of eight key infrastructure sectors in India, which significantly contribute to the Index of Industrial Production, experienced a marked slowdown in November 2024, according to official data released on Tuesday.

Compared to the same month the previous year, growth dipped to 4.3% from 7.9%, with the latest monthly figures showing a slight increase over October's 3.7%. The production of crude oil and natural gas contracted, impacting overall performance.

While other sectors like coal, refinery products, fertilizer, steel, and electricity saw moderated growth, cement output surged to 13% in the period under review, a significant highlight amidst broader sectoral challenges. Cumulatively, the April-November fiscal growth stood at 4.2%, down from last year's 8.7%.

(With inputs from agencies.)