The eight core sector industries, encompassing segments like coal, steel, and electricity, demonstrated a notable growth of 7.8% in November compared to the same month the previous year, as per the official data released on Friday.
Several sectors contributed to this growth: coal production surged by 10.9%, electricity generation saw a 5.6% rise, and steel production shot up by 9.1% in November compared to the corresponding month last year.
Fertiliser production increased by 3.4%, while natural gas production went up by 7.6% during the same period.
There were impressive gains in petroleum refinery production, showing a double-digit growth of 12.4% in November.
However, certain sectors faced a decline: cement production dropped by 3.6%, and crude oil production fell by 0.4% in November.
The final growth rate of the Index of Eight Core Industries for August 2023 was revised to 13.4%. The cumulative growth rate of these core sector industries during April to November 2023-24 stands at 8.6% compared to the corresponding period of the previous year.
These eight core industries collectively constitute a substantial weight of 40.27% in the items included in the Index of Industrial Production (IIP).
(With Agency Inputs)
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