Led by Coal, Natural Gas and Cement production India’s core industries index rises
India’s Index of Eight Core Industries (ICI) has increased by 6.4%. This growth is attributed to positive performances in the production of coal, natural gas, cement, steel, crude oil, electricity, and refinery products. The ICI, which gauges the combined and individual performance of these industries, is a crucial indicator of the country’s industrial output.”
Cement production, accounting for 5.37% of the ICI, increased by 10.2% in February 2024 compared to the same period last year. Coal production, with a weight of 10.33%, saw an 11.6% increase, while Crude Oil production (weight: 8.98%) rose by 7.9%. Electricity generation, representing 19.85% of the ICI, increased by 6.3% in February 2024. Fertilizer production, however, declined by 9.5% in February 2024.
Overall, the ICI reflects a positive trend, with a cumulative growth rate of 7.7% (provisional) during April 2023 to February 2024 compared to the corresponding period in the previous year. The production increase in these core industries bodes well for India’s economic growth and industrial development.
