(THE GIST OF PIB) INDEX OF EIGHT CORE INDUSTRIES

(MARCH-2024)

Combined Index of Eight Core Industries increases by 6.7% (provisional) in Feb 2024 as compared to Index of Feb 2023
A 6.7% increase in the Index of Eight Core Industries in February 2024, with positive growth recorded in Coal, Natural Gas, Cement, Steel, Crude Oil, Electricity, and Refinery Products production.

The Index of Eight Core Industries (ICI) increased by 6.7% in February 2024 compared to February 2023.
Coal production surged by 11.6%, while Natural Gas production increased by 11.3% in February 2024.
Cement production witnessed a substantial growth of 10.2%, while Steel production saw an 8.4% increase.
Crude Oil production recorded a growth rate of 7.9% in February 2024.
Electricity generation rose by 6.3% during the same period.
However, Fertilizers production declined by 9.5% in February 2024.
Cumulatively, from April to February 2023-24, the ICI showed a provisional growth rate of 7.7%.
Key sectors like Coal and Steel exhibited impressive cumulative growth rates of 12.1% and 12.9% respectively during this period.
Petroleum Refinery Products increased by 2.6% in February 2024, contributing to a cumulative index growth of 3.8%.
Overall, the positive growth in these core industries indicates a favourable industrial performance, albeit with some sectors experiencing fluctuations.