India’s Core Industries Show Resilient Growth in December 2024

India's Index of Eight Core Industries recorded a growth of 4.0% in December 2024 compared to the previous year. Key industries such as coal, steel, and electricity marked significant growth, contributing to a cumulative growth rate of 4.2% for April to December 2024-25, the Ministry of Commerce reported.

In a robust performance, India's combined Index of Eight Core Industries (ICI) saw a 4.0% rise in December 2024, compared to the previous year, according to the Ministry of Commerce and Industry. This upward trend was bolstered by positive growth in sectors including coal, electricity, steel, cement, and refinery products.

The ICI, which monitors the output of eight crucial sectors such as coal, crude oil, and natural gas, is a vital component contributing 40.27% to the Index of Industrial Production (IIP). For the month of September 2024, the ICI marked a final growth rate of 2.4%, while the cumulative growth from April to December 2024-25 reached 4.2%, a preliminary figure compared to the same period last year.

December 2024 data reveal a 5.3% increase in coal production and a 5.1% rise in electricity generation. Though crude oil production grew modestly by 0.6%, its cumulative index showed a decline of 2.1% over the year. Natural gas experienced a slight year-on-year drop of 1.8%, yet maintained an overall 0.7% rise over the April-December span.

(With inputs from agencies.)