New Delhi, Nov 30, : .India’s eight largest industries saw a sequential and year-on-year increase in their growth in October due to a healthy production of coal and petroleum products. The Index of Eight Core Industries (ICI) readings last month showed a faster rate of growth at 7.5 percent (provisional) than the rise of 4.5 percent (provisional).
Similar results were obtained for the year-on-year ICI readings.They were higher than the 0.5% reported for October 2020.
The ICI index contains 40.27 percent of the weight of items in the Index of Industrial Production.It includes coal, crude oil and natural gas, fertilizers, steel, cement, electricity, and other industrial products.
According to a Ministry of Commerce and Industry statement, “The combined Index of Eight Core Industries was 136.2 in October 2021.This was an increase of 7.5 percent (provisional), as compared with the Index of October 2020.”
“The October 2021 increase in the production of coal, natural gases, refining products, fertilisers and steel, as well as cement, was more than that of the previous year.”
According to the statement, the final growth rate of Index of Eight Core Industries in July 2021 has been revised to 9.9 percent from its provisional level of 9.4 percent.
“The growth rate for ICI in April-October 2021-22 was 15.1 percent (P) compared to the corresponding period in last FY.”
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