The index of eight core industries (ICI) in India saw a growth of 8.1% in September on an annual basis, data from the Ministry of Commerce & Industry showed Tuesday. The index had grown 12.1% in August.
The ICI grew 7.8% YoY between April and September 2023-24, data showed.
“The production of coal, steel, electricity, natural gas, refinery products, cement and fertilisers recorded positive growth in September 2023 over the corresponding month of last year,” the statement read.
Coal sector output grew 16.1% in September 2023, up from 12.1% in the same month a year ago but lower than 17.9% output in August 2023.
Crude oil sector output dipped marginally by 0.4%, in comparison with a fall of 2.3% in September 2022. The sector’s output grew by 2.1% in August 2023.
Natural gas and refinery products’ outpute grew 6.5% and 5.5% each in September 2023.
Fertilisers’ output grew 4.2% while steel and cement sectors’ output grew 9.6% and 4.7% each.
Output in the electricity sector slowed down from 15.3% seen in August 2023 to 9.3% in September 2023.
The ICI measures the combined and individual performance of production of eight core industries including coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity. The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
