Growth in India’s core sector accelerates to 6.2 percent in April

Growth in eight key infrastructure sectors rose to 6.2% in April, according to data released by the Ministry of Commerce on Friday, on the back of significant increases in production of natural gas, refined products and electricity. Production in eight sectors increased by 6% in March.

Growth in the key sectors of coal, oil, natural gas, refined products, fertilizers, steel, cement and electricity was 4.6 percent in April 2023. Official data showed that fertilizer production recorded negative growth in April . The growth of coal, steel and cement production slowed to 7.5%, 7.1% respectively. and 0.6 percent compared to 9.1% and 16.6% respectively. and 12.4 percent in April 2023.

Eight major sectors contribute 40.27% to the country’s Index of Industrial Production (IIP).

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A summary of the Eight Core Industries Index is provided below:

Cement: Cement production (weight: 5.37%) increased by 0.6% in April 2024. compared to April 2023. Its cumulative indicator increased by 9.0% in 2023–2024. compared to the same period of the previous year.

Coal: Coal production (mass: 10.33%) increased by 7.5% in April 2024. compared to April 2023. Its cumulative rate increased by 11.8% in 2023-24. compared to the same period of the previous year.

Petroleum: Oil production (weight: 8.98%) increased by 1.6% in April 2024. compared to April 2023. Its cumulative index increased by 0.6% in 2023-24. compared to the same period of the previous year.

Electricity: Electricity production (weight: 19.85%) increased by 9.4% in April 2024. compared to April 2023. Its cumulative rate increased by 7.1% in 2023-24. compared to the same period of the previous year.

Fertilizers: Fertilizer production (weight: 2.63%) decreased by 0.8% in April 2024. compared to April 2023. Its cumulative indicator increased by 3.7% in 2023–2024. compared to the same period of the previous year.

Natural gas: Natural gas production (weight: 6.88%) increased by 8.6% in April 2024. compared to April 2023. Its cumulative rate increased by 6.1% in 2023–2024. compared to the same period of the previous year.

Oil refinery products: Oil refinery production (weight: 28.04%) increased by 3.9% in April 2024. compared to April 2023. Its cumulative rate increased by 3.6% in 2023–2024. compared to the same period of the previous year.

Steel: Steel production (weight: 17.92%) increased by 7.1% in April 2024. compared to April 2023. Its cumulative index increased by 12.4% in 2023-24. compared to the same period of the previous year.