The Ministry of Commerce and Industry reported that Coal, Refinery Products, Steel, Cement, Electricity, and Fertilisers experienced positive growth. Coal production increased by 7.8%, while crude oil and natural gas production saw declines of 4.8% and 1.2%, respectively.
Petroleum Refinery production, which holds a 28.04% weight in the index, rose by 5.2%, and its cumulative index saw a 2.7% increase from April to October 2024. Fertiliser production grew by 0.4%.
Also read: India’s Q2 GDP growth slows to a shocking 5.4%, lowest since Q3 FY23
Steel production rose by 4.2%, while cement production saw a 3.3% increase. Electricity generation, making up 19.85% of the total, grew by 0.6% in October.
These sectors together account for 40.27% of the weight of the items in the Index of Industrial Production (IIP).
About The Author
