New Delhi: The Combined Index of Eight Core Industries (ICI) increased by 3.1 per cent in October this year on annual basis. Data released by Ministry of Commerce showed this.
The growth of core sectors was 4.1 percent during April-October this fiscal. October marks the second consecutive month of rise in core sector growth.
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The production of Coal, Refinery Products, Steel, Cement, Electricity and Fertilizers recorded positive growth in October. The coal production increased by 7.8 percent, refinery products advanced by 5.2 percent, fertilizers witnessed an uptick of 0.4 percent, steel production rose by 4.2 percent, cement sector output growth increased 3.3 percent and electricity generation increased by 0.6 percent in October, 2024 in comparison to same month of last year. Meanwhile, the crude oil sector witnessed a fall of 4.8 percent and the Natural gas production declined by 1.2 percent for the same period.
Eight core sectors include coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity. The ICI is calculated after considering the combined and individual performance of production of 8 core industries. These core industries are, Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel. The 8 core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
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