Growth rate of eight major industries stood at 2% in September

By Sandy Verma On Nov 1, 2024

Mumbai Mumbai:The Commerce and Industry Ministry on Wednesday said the composite index of eight core industries (ICI) has increased by 2% in September 2024 compared to the index of September 2023. The production of cement, refinery products, coal, fertilizers and steel recorded positive growth in September 2024. Eight major industries comprise 40.27% of the items included in the Index of Industrial Production (IIP). According to the ministry data, the cumulative growth rate of ICI during April to September, 2024-25 is 4.2% (provisional) compared to the same period last year. Cement production increased by 7.1% in September compared to last year. Its cumulative index increased by 1.6% during April to September 2024-25 compared to the same period last year.

Petroleum refinery output grew by 5.8% in September, and its cumulative index rose by 2.3% during April to September 2024-25. Coal production increased by 2.6% in September. Its cumulative index grew by 5.9% during April to September 2024-25. Fertilizer production increased by 1.9% in September. Its cumulative index grew by 1.7% during April to September 2024-25. In September, steel production increased by 1.5%. Its cumulative index grew by 6.1% during April to September 2024-25. Crude oil production declined by 3.9% in September, while the cumulative index declined by 2.1% during April to September 2024-25. Natural gas production declined by 1.3% in September 2024 while electricity production declined by 0.5%. Their cumulative indices grew by 2% and 5.9% respectively during April to September 2024-25.