Core Sector Growth Slows to 4% in January Amid Weak Energy Output

• India's eight core infrastructure industries grew by 4% in January 2026, down from 4.7% in December.
• Energy sectors like crude oil (-5.8%) and natural gas (-5%) continued to show weakness, dragging down overall performance.
• Steel (9.9%) and cement (10.7%) maintained strong growth, reflecting robust construction and infrastructure activity.
• Electricity generation expanded by 3.8%, while coal (3.1%) and fertilizer (3.7%) outputs also saw positive growth.
• Government capital expenditure and higher housing activity are supporting steel and cement sectors, according to Madan Sabnavis, chief economist, Bank of Baroda.