Output of eight core industries rises 12.1% in October

01 Dec 2023 Evaluate

The output of eight core industries posted a growth of 12.1 percent in October 2023 on the back of robust expansion in coal, electricity, cement and steel. Core sector growth was a mere 0.7 percent in October 2022. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

Cement production, having 5.37 per cent weight increased by 17.1 per cent in October, 2023 over October, 2022 and its cumulative index increased by 12.2 per cent during April to October, 2023-24 over corresponding period of the previous year. Coal production, having 10.33 per cent weight increased by 18.4 per cent in October, 2023 over October, 2022 and its cumulative index increased by 13.1 per cent during April to October, 2023-24 over corresponding period of the previous year. Steel production having 17.92 per cent weight increased by 11.0 per cent in October, 2023 over October, 2022 and its cumulative index increased by 14.5 per cent during April to October, 2023-24 over corresponding period of the previous year.

Electricity generation having 19.85 per cent weight increased by 20.3 per cent in October, 2023 over October, 2022 and its cumulative index increased by 7.9 per cent during April to October, 2023-24 over corresponding period of the previous year. Fertilizer production having 2.63 per cent weight increased by 5.3 per cent in October, 2023 over October, 2022 and its cumulative index increased by 6.7 per cent during April to October, 2023-24 over corresponding period of the previous year.

Natural Gas production having 6.88 per cent weight increased by 9.9 per cent in October, 2023 over October, 2022 and its cumulative index increased by 5.1 per cent during April to October, 2023-24 over corresponding period of the previous year. Petroleum Refinery production having 28.04 per cent weight increased by 4.2 per cent in October, 2023 over October, 2022 and its cumulative index increased by 4.0 per cent during April to October, 2023-24 over corresponding period of the previous year. Crude Oil production having 8.98 per cent weight increased by 1.3 per cent in October, 2023 over October, 2022, while its cumulative index declined by 0.1 per cent during April to October, 2023-24 over corresponding period of the previous year.

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