Growth In India's Eight Core Industries Slows Down To 0.1 Per Cent In October

The production growth of eight infrastructure sectors was 8.2 per cent during April-October this fiscal, compared to 15.6 per cent a year ago

The growth rate in the production of eight key sectors slowed down to 0.1 per cent in October against 8.7 per cent in the same month last year, according to the official data released on Wednesday.

In September, the core sectors' output growth stood at 7.8 per cent. The production growth of eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 8.2 per cent during April-October this fiscal, compared to 15.6 per cent a year ago.

In October, crude oil, natural gas, refinery products, and cement output recorded negative growth rate.

The production of fertilizers, steel, coal, and electricity generation increased in October 2022 over the corresponding month of last year. ICI measures combined and individual performance of production in selected eight core industries viz. coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity.

The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP), according to the release by the government.

Coal – Coal production (weight: 10.33 per cent) increased by 3.6 per cent in October, 2022 over October, 2021. Its cumulative index increased by 18.1 per cent during April to October, 2022-23 over corresponding period of the previous year.

Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 2.2 per cent in October, 2022 over October, 2021. Its cumulative index declined by 1.4 per cent during April to October, 2022-23 over the corresponding period of previous year.

Natural Gas - Natural Gas production (weight: 6.88 per cent) declined by 4.2 per cent in October, 2022 over October, 2021. Its cumulative index increased by 0.9 per cent during April to October, 2022-23 over the corresponding period of previous year.

Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) declined by 3.1 per cent in October, 2022 over October, 2021. Its cumulative index increased by 8.1 per cent during April to October, 2022-23 over the corresponding period of previous year.

Fertilizers – Fertilizers production (weight: 2.63 per cent) increased by 5.4 per cent in October, 2022 over October, 2021. Its cumulative index increased by 10.5 per cent during April to October, 2022-23 over the corresponding period of previous year.

Steel – Steel production (weight: 17.92 per cent) increased by 4.0 per cent in October, 2022 over October, 2021. Its cumulative index increased by 6.1 per cent during April to October, 2022-23 over the corresponding period of previous year.

Cement – Cement production (weight: 5.37 per cent) declined by 4.3 per cent in October, 2022 over October, 2021. Its cumulative index increased by 8.6 per cent during April to October, 2022-23 over the corresponding period of previous year.

Electricity – Electricity generation (weight: 19.85 per cent) increased by 0.4 per cent in October, 2022 over October, 2021. Its cumulative index increased by 9.3 per cent during April to October, 2022-23 over the corresponding period of previous year.