Core sector industries clock 12.1% growth in October

The eight core industries registered an increase of 12.1 per cent in October 2023, compared to the same month of the previous year, official figures released on Thursday showed.

The eight core industries including cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

Cement production increased by 17.1 per cent while coal production went up by 18.4 per cent and electricity generation recorded an impressive 20.3 per cent jump in October. Steel production also recorded a double digit increase of 11 per cent during the month.

The final growth rate of the eight core industries for July 2023 has been revised to 8.5 per cent.

The cumulative growth rate of the index of core industries during April to October works out to 8.6 per cent as compared to the corresponding period of last year.