Eight core industries grow by 2% in September
The combined Index of Eight Core Industries (ICI) increased by 2% in September 2024 as compared to the Index in September 2023, the Ministry of Commerce and Industry said on Wednesday.
The coal sector has showcased the highest growth of 10.6% among the eight core industries for the month of December 2023 as per the Index of Eight Core Industries (ICI)) released by the Ministry of Commerce and Industries on Thursday.
The index of the coal industry reached 204.0 points during Dec’23 as compared to 184.4 points during the same period of last year, the Ministry of Coal said.
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Notably, the cumulative index has increased by 12.5% during April to December, 2023-24 over the corresponding period of the previous year.
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Combined Index of Eight Core Industries has shown an increase of 3.8% in December 2023, compared to the same period of previous year.
The coal sector weighs 10.33% in ICI, and has played a crucial
role in overall growth of eight core industries representing double digit growth in the last six months and substantially higher growth than the overall growth of eight core industries in last two financial years.
It is worth highlighting that the ICI measures the combined and
individual production performance of eight core industries, viz. cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel.
The Ministry of Coal said the impressive growth in the Index of
Coal Industry can be attributed to a substantial surge in coal production during the month of December 2023, reaching 92.92 Million Tonne, surpassing the figures of 83.91 MT of the corresponding month of previous year, representing a
remarkable increase of 10.74%.
It further highlighted that the exceptional expansion of the coal
sector, coupled with its substantial role in propelling the overall growth of the eight core industries, stands as evidence of the Ministry of Coal’s persistent endeavours and proactive initiatives.
These efforts align with the vision of “Atmanirbhar
Bharat” and contribute to the nation’s progress towards self-sufficiency and energy security.
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