The combined Index of Eight Core Industries (ICI) increased by 6.1% (provisional) in July 2024 as compared to the Index in July 2023, the Ministry of Commerce & Industry said on Friday.
The production of steel, electricity, coal, refinery products, cement, and fertilizers recorded positive growth in July 2024.
Steel production increased by 7.2% in July 2024 over last year. Its cumulative index increased by 7.6% from April to July 2024-25 over the corresponding period of the previous year.
Electricity generation spiked by 7% in July while its cumulative index increased by 9.9% from April to July 2024-25.
Further, coal production increased by 6.8% in July with the cumulative index increasing by 9.9% from April to July 2024-25.
Petroleum Refinery production increased by 6.6% in July 2024, and by 2.3% from April to July 2024-25.
Cement production increased by 5.5%, fertilizer production increased by 5.3% in July. Their cumulative index from April to July increased by 1.6% and 1.3% respectively.
On the declining side was Crude Oil production by 2.9% and natural gas production by 1.3% in July.
The ministry data also highlighted that the final growth rate of the Index of Eight Core Industries for April 2024 stands at 6.9%.
Notably, the Eight Core Industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).