India's core industries see growth of 2 percent in September 2024, driven by cement, refinery products, and coal

India's Index of Eight Core Industries (ICI) registered a 2 per cent maturation successful September this year, compared to the aforesaid period past year, the Ministry of Commerce and Industry reported connected Wednesday.

According to the release, this maturation was chiefly driven by accrued accumulation successful the Cement, Refinery Products, Coal, Fertilisers, and Steel sectors. The 8 halfway industries, which represent 40.27 per cent of the Index of Industrial Production (IIP), supply a important overview of India's concern health.

The ministry's information reveals mixed sectoral performance. The Coal sector, which holds a value of 10.33 per cent successful the ICI, roseate by 2.6 per cent successful September 2024, with a cumulative maturation of 5.9 per cent from April to September 2024-25 compared to the aforesaid play past year.

The largest component, Refinery Products, with a value of 28.04 per cent, accrued by 5.8 per cent successful September. Cumulatively, refinery products grew by 2.3 per cent from April to September 2024-25.

Cement output saw the highest maturation among the halfway sectors, surging by 7.1 per cent successful September. However, its cumulative maturation from April to September was much moderate, astatine 1.6 per cent.

Steel accumulation accrued by 1.5 per cent year-over-year successful September, with a beardown cumulative maturation complaint of 6.1 per cent from April to September. Fertiliser accumulation grew by 1.9 per cent successful September, contributing to a cumulative maturation of 1.7 per cent implicit the April-September period.

However, immoderate industries saw declines. Crude Oil accumulation dropped by 3.9 per cent successful September and declined by 2.1 per cent cumulatively implicit the April-September period. Natural Gas recorded a 1.3 per cent alteration successful September, though its cumulative scale roseate by 2 per cent for April-September 2024-25.

Electricity, 1 of the largest components of the ICI, fell by 0.5 per cent successful September, though its cumulative maturation implicit the archetypal fractional of the fiscal twelvemonth remained beardown astatine 5.9 per cent.

The cumulative maturation complaint for the ICI successful the April-September 2024-25 play stood astatine 4.2 per cent, indicating a humble upward inclination contempt sectoral challenges. In June 2024, the ICI recorded a last maturation complaint of 5.0 per cent, reflecting resilience successful definite segments.