India's core industries mark 11.6% growth in August 2021: Government data

The core sector growth this year shows stark improvement from last year when the industries contracted by 6.9 per cent.
A manufacturing facility of Uttam Galva Steels Ltd., the Indian unit of ArcelorMittal, in Khopoli, Maharashtra, India. (Photographer: Vivek Prakash/Bloomberg)(Bloomberg)
A manufacturing facility of Uttam Galva Steels Ltd., the Indian unit of ArcelorMittal, in Khopoli, Maharashtra, India. (Photographer: Vivek Prakash/Bloomberg)(Bloomberg)
Published on Sep 30, 2021 07:02 PM IST
Copy Link

India’s core industrial sector saw a growth of 11.6 per cent in the month of August, the Index of Eight Core Industries (ICI) released by the Ministry of commerce & industry stated on Thursday. This is a stark improvement from last year when the industries had contracted by 6.9 per cent, the data showed. The country’s eight core industries include coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity.

These comprise 40.27 per cent of the weight of items included in the overall Index of Industrial Production (IIP). It is for the third month in a row that the core sectors have posted growth.

Among these, coal production for August rose by 20.6 per cent compared to last year, while natural gas production increased by 20.6 in August this year. The petroleum refinery production climbed 9.1 per cent and electricity generation surged by 15.3 per cent year-on-year, the government data showed. Steel and cement production also increased this year, compared to the corresponding period last year.

On the other hand, output of crude oil and fertiliser industries declined over the yearly period by 2.3 per cent and 3.1 per cent respectively.

So far, the growth rate of the eight core industries during April-August for the financial year 2021-22 was 19.3 per cent as compared to a contraction of 17.3 per cent the corresponding period of last year.

SHARE THIS ARTICLE ON
Close Story
SHARE
Story Saved
OPEN APP
×
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Tuesday, November 30, 2021