Economy & Market
Except coal, all other core sectors witness decline
Published
6 years agoon
By
admin
During the month barring coal all eight sectors have witnessed contractions due to the coronavirus-led lockdown announced on March 24 that led to closure of activities in most industries.
In March 2020, the production in the eight core industries contracted at a fastest pace in the past eight years. Eight core sector output contracted by considerable 6.5 per cent after registering persistent growth in the past 4 months. In March 2019, the production in these industries had grown by 5.8 per cent and had expanded by 7.1 per cent In February. The growth for February 2020 has been revised upwards from 5.5 per cent (prov.) to 7.1 per cent (first revision).
The eight core industries comprise 40.27 per cent of the weight included in the index of industrial production (IIP) basket. During the month barring coal all eight sectors have witnessed contractions due to the coronavirus-led lockdown announced on March 24 that led to closure of activities in most industries.
In FY20, the production in the eight core industries expanded at lacklustre 0.6 per cent, which is a lowest growth seen in the past eight years. Contraction in output in four industries namely coal, crude oil, natural gas and cement and subdued growth in remaining four industries has led to lower growth during the year.
March 2020
Contraction during the month is on account of broad based declined across sectors barring coal.
Coal production grew by 4 per cent lower than the 9.1 per cent growth seen in March 2019. The growth has been supported by ramped up production by one of the main players in the industry. However, reduction in demand for power, high inventories lying with power generation companies and labour shortages faced by companies impacted the output.
In March 2020, Crude oil production contracted successively for more than 2 years (28 months) by 5.5 per cent due to the decline in fields operated by private players along with decline in crude oil prices.
The production of the natural gas too has declined in the past one year and in March it further declined at a double digit pace of 15.2 per cent. It can be ascribed to decline in consumer demand due to the nationwide lockdown, which shut transport and industrial activity.
Steel production has declined at a fastest pace since the inception of 2011-12 series. In March 2020, it declined by 13 per cent as against 6.3 per cent growth in the same month a year ago. Steel production in March 2020 was impacted by the seven days nationwide lockdown during the month which led to halt in production by most user industries including automobile and construction.
The production of cement too contracted at a fastest rate in the past 8 years. It contracted by -24.7 per cent in March 2020 as against 7.8 per cent in March 2019 due to high base effect coupled with the halt in production due to the nationwide government imposed lockdown.
Electricity production has declined by 7.2 per cent compared with 11.7 per cent growth last month. The contraction in electricity generation in March’20 can be attributed to the fall in electricity demand from the industrial and commercial sector (which together account for nearly 50 per cent of the country’s electricity demand) on account of the lockdown. Electricity demand fell by nearly 25 per cent during the second half of March’20. Power generation from both the renewable energy sources and conventional sources have declined during the month. Power generation has been impacted by availability of inputs as well as labour due to the disruption caused by the pandemic.
During the year, four sectors witnessed decline in production namely coal, crude oil, natural gas and cement whereas the remaining four sectors have increase in output during the year though lower than a year ago level barring fertilizers that grew at highest rate in the past 4 years.
Coal production contracted for the first time in the past 8 year. Year on year, the production of coal declined by 0.5 per cent as against the 7.4 per cent growth seen a year ago. Coal production remained low during the first eight months of FY20 due to the extended rainfall and labour strikes at one of the largest coal mining company in the country. Post the withdrawal of monsoon, the production picked up having grown between 6-11 per cent during December 2019 to February 2020 before moderating in March 2020.
Crude oil production contracted for the past 8 years in a row. However, at -5.9 per cent, it was the highest decline in the crude oil production compared with the previous 8 years. Loss of output in old and aging fields weighed on overall production during the year. In addition, sustained decline in the crude oil prices and high inventories globally have weighed on the domestic production during the year.
Fertilizers production grew at 4 year high rate of 2.7 per cent in FY20, after 3 consecutive years of less than 1 per cent growth. Strong double digit growth in Q3-FY20 led to such positive number for full year FY20. Improvement in demand due to a good southwest monsoon which resulted into higher sowing and a decline in prices of the commodity has aided the increase in production. While area covered in the Kharif season remained at similar levels as previous year, areasown in the Rabi season saw a pick up and thereby boosted fertilizer output for the year.
When compared with the growth in other sectors in FY20, steel production growth was highest among all at 4.2 per cent. However, there has been sustained decline in the steel production since FY17 as muted construction activities on account of delayed monsoons, high real estate inventories and slowdown in the automobile sector lowering demand for steel led to lower production in this segment.
After registering considerable double digit growth by 13.3 per cent in FY19, the production of cement declined by 0.8 per cent in FY20. Weakness in housing demand, prolonged rains in many parts of the country and decline in demand from the infrastructure segment due to lack of funding and halting/ temporary stoppage of state projects following change in government post state elections has affected the production of cement in the domestic markets.
Electricity generation grew at the slowest pace in 7 years in FY20 at 1 per cent growth. There was a sustained decline in domestic power generation during June ? November’19 that can be partly attributed to the extended monsoons which reduced electricity demand from the agriculture sector as well as households (cooler temperatures).
CARE Ratings’ View
On the premise of the contraction seen in the eight core sector in March 2020, the industrial output is also expected to contract in the month of March 2020. The coronavirus led lockdown was extended till May 3rd, which has brought industrial activities to a near standstill in whole April 2020. Despite some ease in industrial activities has been permitted by the government post April 20th, the production activities have remained muted with labour shortages and other issues. As result, in April 2020 as well we may see a further contraction in eight core sectors and in the industrial output.
Courtesy: CARE Ratings’ Core Sector – March 2020 and FY20 report
ABOUT THE AUTHORS:
Economics Team: Kavita Chacko and Dr Rucha Ranadive
Industry Research Team: Urvisha Jagaseth, Vahishta Unwalla and Rashmi Rawat
Madan Sabnavis, Chief Economist.
Disclaimer: This report is prepared by CARE Ratings Ltd. CARE Ratings has taken utmost care to ensure accuracy and objectivity while developing this report based on information available in public domain. However, neither the accuracy nor completeness of information contained in this report is guaranteed. CARE Ratings is not responsible for any errors or omissions in analysis/inferences/views or for results obtained from the use of information contained in this report and especially states that CARE Ratings has no financial liability whatsoever to the user of this report.
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Economy & Market
RAHSTA Roundtable Sets Agenda for Smarter, Safer Highways
Published
2 days agoon
March 16, 2026By
admin
Roundtable discussions focus on innovation for safer highways.
Held on 12 March 2026 at Courtyard by Marriott, Mumbai, alongside the Infrastructure Today Airport Conclave, the RAHSTA Roundtable brought together stakeholders from across the highways and infrastructure ecosystem to shape the agenda for the 16th RAHSTA 2026, scheduled for 8–9 July 2026 at the Jio Convention Centre, Mumbai. The session focused on key industry themes including road construction, technology, safety and long-term sustainability.
Opening the discussion, Pratap Padode, Founder, FIRST Construction Council, said the roundtable marked the beginning of a broader consultative process leading up to the July event. The aim, he noted, is to bring together industry stakeholders to refine the agenda for discussions on the future of roads, bridges, tunnels and allied infrastructure.
Padode noted that while central road project awards have slowed in recent years, states are increasingly driving the next phase of infrastructure growth. Maharashtra, with its long-term road development plans and agencies such as MSRDC and MSIDC, is expected to play a significant role in this expansion.
RAHSTA Expo 2026 as a specialised platform dedicated to road infrastructure, covering highways, tunnels, bridges and flyovers along with construction technologies, safety systems and maintenance solutions. He also highlighted the growing importance of rural connectivity and said the organisers are engaging with government bodies to highlight rural road development initiatives.
Tanveer Padode, CIO, ASAPP Info Group, presented insights from IMPACCT, the group’s infrastructure intelligence platform. He pointed to a strong project pipeline despite slower highway awards earlier in the year, noting that states such as Maharashtra, Odisha and Arunachal Pradesh are emerging as key drivers of new projects. The data also revealed that only a small group of contractors participates in large-value infrastructure bids.
Lt Gen Rajeev Chaudhary, former Director General, Border Roads Organisation and Chairman of the RAHSTA Expo Committee, emphasised the need for stronger collaboration across the ecosystem, including policymakers, contractors, technology providers and financiers. He also called for addressing systemic issues within the sector and encouraged greater participation of women in infrastructure leadership.
The discussion also explored the evolving economics of road development. Phani Prasad Mandalaparthy, Associate Director, CRISIL Intelligence, noted that the slowdown in project awards reflects a shift towards higher-value logistics corridors rather than simple road widening projects. However, private participation through BOT and TOT models remains limited.
From the contractors’ perspective, Sudhir Hoshing, Whole-Time Director, Ceigall, said companies are becoming more selective in bidding, favouring projects with clearer payment mechanisms and efficient processes. While NHAI continues to offer greater operational clarity, states such as Uttar Pradesh and Bihar were cited as relatively supportive environments for project execution.
Durability and sustainability also emerged as key themes. Himanshu Agarwal, COO – Road & Infrastructure, Zydex Group India, highlighted the need to prioritise lifecycle performance and resilient pavements, while participants discussed the potential of alternative materials such as plastic waste, steel slag and industrial by-products in road construction.
Dr LR Manjunatha, Vice President, JSW Cement, emphasised that India has abundant fly ash, slag and other industrial materials that can improve durability and sustainability if integrated into specifications and policy frameworks.
Technology and equipment challenges were also discussed. Dr Lakshmana Rao Mantri, Dy General Manager, Afcons Infrastructure, highlighted the shortage of tunnel boring machines (TBMs), which is delaying several underground infrastructure projects. Participants agreed that developing domestic TBM manufacturing capabilities will be critical for future infrastructure expansion.
The future of concrete pavements was another area of discussion. Dr V Ramachandra, President, Indian Concrete Institute, stressed that the debate should focus on lifecycle performance rather than material choice alone, noting that evolving design standards are improving the feasibility of concrete roads.
Prof Dharamveer Singh of IIT Bombay added that while India has made significant progress in infrastructure development, stronger capacity building and better execution practices are essential to ensure consistent road quality.
The discussion also touched upon technology adoption in the sector. Rushabh Mamania, Partner & CBO, Roadvision, highlighted the growing role of AI in road infrastructure, noting that AI-driven monitoring systems are already being deployed across large stretches of national highways.
Overall, the roundtable underscored that the future of highway infrastructure will depend not only on the pace of construction but also on durability, safety, technology integration and sustainable materials. The discussions offered valuable insights that will help shape the agenda for RAHSTA 2026 and guide future collaboration within the industry.
Economy & Market
CTS Roundtable Charts Tech-Led Roadmap for Construction
Published
2 days agoon
March 16, 2026By
admin
CTS Roundtable Maps Technology Roadmap for Construction
Ahead of the Construction Technology Show (Con Tech Show) 2026, industry leaders, technology innovators and academia came together in Mumbai to deliberate on how digitalisation, automation and industrialised construction can reshape the sector. The discussion made one thing clear: construction can no longer afford to treat technology as optional.
Held on 12 March 2026 at Courtyard by Marriott, Mumbai, alongside the Infrastructure Today Airport Conclave, the CTS Roundtable served as a precursor to the Construction Technology Show 2026, scheduled for 19–20 August 2026 at NESCO, Mumbai.
A platform to move from discussion to deployment
Opening the session, Pratap Padode, Founder and Editor-in-Chief, ASAPP Info Global Group, said construction technology has long remained close to his heart, especially given the sector’s traditionally slow pace of technology adoption. He noted that over the years, the Construction Technology Summit had steadily built interest, and the next step was now to expand it into a larger, more meaningful platform that could bring together technology providers, users, startups and innovators under one roof.
Padode said the vision for CTS is not limited to software alone. The platform aims to embrace all forms of technology that can improve construction efficiency, quality and execution—from digital tools and project management systems to lean construction, off-site fabrication and startup-led innovation. He also highlighted plans to deepen startup participation and create space for young companies to showcase emerging construction solutions.
Industry at a turning point
Moderating the roundtable, Naushad Panjwani, Chairman, Mandarus Partners, set the context by pointing out that the global construction industry, despite being a multi-trillion-dollar sector, continues to lag in productivity. He noted that while manufacturing has consistently improved efficiency, construction has remained slow to modernise.
Referring to both global and Indian trends, Panjwani underlined that the industry is now at a decisive moment. India, he said, is entering a major build cycle, and delivering the next phase of infrastructure and real estate growth through traditional methods alone is no longer viable. The goal of the roundtable, therefore, was not to debate technology in isolation, but to identify the most critical conversations that would bridge the gap between innovation and implementation.
His central message was clear: CTS 2026 must be shaped around themes that make CEOs, CIOs and CTOs feel they cannot afford to miss the event.
From BIM to AI, data to governance
A major theme that emerged through the discussion was the need for better data, better visibility and better decision-making. Dr Venkata Santosh Kumar of IIT Bombay echoed this, saying that the underlying data infrastructure itself needs attention. Construction projects, particularly remote ones, often face issues around connectivity, data collection and data use. Without this foundation, more advanced technologies cannot deliver their full value.
Chandra Vasireddy, CEO & Co-founder, Inncircles, expanded the discussion to governance, arguing that technology must help connect the many moving parts of a construction business. For him, the real value of digital transformation lies in creating better governance, clearer visibility and stronger business outcomes.
Tejas Vara of Inncircles stressed the importance of timely site data for leadership teams, especially in large and remote projects where decisions on materials, machinery and manpower often get delayed because information does not reach headquarters in time.
The role of AI also featured prominently. Rushabh Mamania, Partner and CBO, Roadvision said that while AI and machine learning are now common terms, vision intelligence and language intelligence have still not deeply penetrated the construction sector. He emphasised that startups in India are building relevant AI-led solutions and are already attracting international interest, showing that innovation need not be imported—it can be built locally and scaled globally.
Industrialised construction gains ground
The roundtable also placed strong emphasis on industrialised construction methods. Kalyan Vaidyanathan, CTO – Construction & R&D, Tvasta, called for greater focus on off-site fabrication and the broader industrialisation of construction. Bhargav Jog, General Manager, Dextra, highlighted precast technology and alternative sustainable materials as areas with immediate relevance.
Several participants agreed that modular, precast and pre-engineered approaches are no longer niche ideas. They are increasingly becoming practical responses to the sector’s challenges around labour shortage, timelines, quality control and predictability.
Anup Mathew, Sr VP & Business Head, Godrej, argued that the industry needs a fully integrated approach—from design and procurement to execution and asset management. Unless these are connected, technology adoption will remain fragmented and sub-optimal. He pointed to pre-engineered and modular systems as examples of how industrial thinking can compress timelines, improve quality and reduce dependence on difficult on-site conditions.
Adoption remains the biggest hurdle
While there was broad agreement on the promise of technology, the discussion repeatedly returned to one fundamental challenge: adoption.
Abhishek Kumar, COO, LivSYT, observed that the market is crowded with solutions, but many buyers still struggle to evaluate which technology suits which use case. According to him, the industry needs clearer frameworks to help users select, compare and adopt solutions, rather than expecting a single platform to solve every problem.
Dr Tenepalli JaiSai, Associate Professor, School of Construction(SoC), NICMAR University, noted that isolated technologies will not solve the productivity problem by themselves. What is required is an integrated Construction 4.0 approach, where digital, physical and cyber-physical systems work together rather than in silos.
That concern around silos was reinforced by Subodh Dixit, former Director, Shapoorji Pallonji, who said the issue is not just that technologies are disconnected, but that stakeholders are as well. Clients, consultants, contractors and partners often operate with different priorities. Unless these silos are broken, technology will struggle to percolate across the full project value chain.
Harleen Oberoi, Project Management, Tata Realty shared a practical perspective from the client side, saying that successful BIM implementation requires investment across the ecosystem, not just within one organisation. Trade partners, vendors and other stakeholders must also be trained and aligned if the technology is to deliver its intended results.
Beyond buzzwords
A notable takeaway from the session was that the industry is moving past the phase of treating technology as a buzzword. Participants repeatedly stressed that the real question is not whether technology should be used, but where it creates measurable value and how that value can be scaled.
The conversation also expanded beyond mainstream themes to include repairs and rehabilitation, construction and demolition waste, sustainability, circular economy, green sourcing, carbon measurement, design interoperability, generative design, robotics, and the role of horticulture and greener built environments.
Setting the agenda for CTS 2026
By the close of the session, the roundtable had surfaced a strong set of themes for the upcoming show: BIM and digital twins, AI and data platforms, industrialised construction, startup innovation, governance-led technology adoption, robotics, sustainable materials, and integrated project delivery.
More importantly, the session established CTS 2026 as more than an exhibition. It is shaping up to be a serious industry platform where users, technology providers, researchers and policymakers can collectively define the future of construction.
As Padode noted in his closing remarks, the conversation will continue through further consultations and possibly webinars in the run-up to the show. If the roundtable is any indication, CTS 2026 will aim not merely to showcase technology, but to push the industry towards meaningful adoption at scale.
SEEPEX introduces BN pumps with Smart Joint Access (SJA) to improve efficiency, reliability, and inspection speed in demanding rock blasting operations.
Designed for abrasive and chemical media, the solution supports precise dosing, reduced downtime, and enhanced operational safety.
SEEPEX has introduced BN pumps with Smart Joint Access (SJA), engineered for the reliable and precise transfer of abrasive, corrosive, and chemical media in mining and construction. Designed for rock blasting, the pump features a large inspection opening for quick joint checks, a compact footprint for mobile or skid-mounted installations, and flexible drive and material options for consistent performance and uptime.

“Operators can inspect joints quickly and rely on precise pumping of shear-sensitive and abrasive emulsions,” said Magalie Levray, Global Business Development Manager Mining at SEEPEX. “This is particularly critical in rock blasting, where every borehole counts for productivity.” Industry Context
Rock blasting is essential for extracting hard rock and shaping safe excavation profiles in mining and construction. Accurate and consistent loading of explosive emulsions ensures controlled fragmentation, protects personnel, and maximizes productivity. Even minor deviations in pumping can cause delays or reduce product quality. BN pumps with SJA support routine maintenance and pre-operation checks by allowing fast verification of joint integrity, enabling more efficient operations.
Always Inspection Ready
Smart Joint Access is designed for inspection-friendly operations. The large inspection opening in the suction housing provides direct access to both joints, enabling rapid pre-operation checks while maintaining high operational reliability. Technicians can assess joint condition quickly, supporting continuous, reliable operation.
Key Features
- Compact Footprint: Fits truck-mounted mobile units, skid-mounted systems, and factory installations.
- Flexible Drive Options: Compact hydraulic drive or electric drive configurations.
- Hydraulic Efficiency: Low-displacement design reduces oil requirements and supports low total cost of ownership.
- Equal Wall Stator Design: Ensures high-pressure performance in a compact footprint.
- Material Flexibility: Stainless steel or steel housings, chrome-plated rotors, and stators in NBR, EPDM, or FKM.
Operators benefit from shorter inspection cycles, reliable dosing, seamless integration, and fast delivery through framework agreements, helping to maintain uptime in critical rock blasting processes.
Applications – Optimized for Rock Blasting
BN pumps with SJA are designed for mining, tunneling, quarrying, civil works, dam construction, and other sectors requiring precise handling of abrasive or chemical media. They provide robust performance while enabling fast, reliable inspection and maintenance.With SJA, operators can quickly access both joints without disassembly, ensuring emulsions are transferred accurately and consistently. This reduces downtime, preserves product integrity, and supports uniform dosing across multiple bore holes.
With the Smart Joint Access inspection opening, operators can quickly access and assess the condition of both joints without disassembly, enabling immediate verification of pump readiness prior to blast hole loading. This allows operators to confirm that emulsions are transferred accurately and consistently, protecting personnel, minimizing product degradation, and maintaining uniform dosing across multiple bore holes.
The combination of equal wall stator design, compact integration, flexible drives, and progressive cavity pump technology ensures continuous, reliable operation even in space-limited, high-pressure environments.
From Inspection to Operation
A leading explosives provider implemented BN pumps with SJA in open pit and underground operations. By replacing legacy pumps, inspection cycles were significantly shortened, allowing crews to complete pre-operation checks and return mobile units to productive work faster. Direct joint access through SJA enabled immediate verification, consistent emulsion dosing, and reduced downtime caused by joint-related deviations.
“The inspection opening gives immediate confidence that each joint is secure before proceeding to bore holes,” said a site technician. “It allows us to act quickly, keeping blasting schedules on track.”
Framework agreements ensured rapid pump supply and minimal downtime, supporting multi-site operations across continents
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