India’s core sector growth grows by 6.3% in May

New Delhi: The Combined Index of Eight Core Industries (ICI) grew 6.3 per cent in May 2024. It was at 5.2 per cent a year ago. It was at 6.2 per cent in April 2024. It was at 6 per cent in March. The core sector growth had stood at 4.6 per cent in April 2023.

Eight core sectors include coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity. The growth was recorded on the basis of healthy expansion in the production of coal, natural gas, and electricity. According to the official data, fertiliser, crude oil, and cement output recorded negative growth in May.

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During April-May this fiscal, the output of these sectors was up 6.5 per cent against 4.9 per cent in the same period last fiscal.

The ICI is calculated after considering the combined and individual performance of production of 8 core industries. These core industries are, Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel. The 8 core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).