Coal Sector Leads with 11.6% Growth in February 2024: Core Industries Report

Robust Performance Bolsters India’s Industrial Landscape

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TFP Bureau, New Delhi; April 2, 2024: The coal sector has emerged as the top performer among India’s eight core industries, recording an impressive growth rate of 11.6% (provisional) in February 2024, according to the latest data released by the Ministry of Commerce & Industries.

The Index of Eight Core Industries (ICI), based on a base year of 2011-12, reveals that the coal industry achieved a substantial milestone with an index of 212.1 points in February 2024, compared to 190.1 points during the same period last year. Moreover, the cumulative index for the coal sector surged by 12.1% during April to February 2023-24, showcasing consistent growth momentum.

The ICI, which tracks the production performance of key sectors including cement, crude oil, electricity, fertilizers, natural gas, refinery products, and steel, registered a commendable 6.7% increase in February 2024 compared to the corresponding period of the previous year.

Notably, the coal industry has maintained its dominance with sustained double-digit growth over the past eight months, outperforming other core sectors. This robust performance underscores the sector’s resilience and contribution to India’s industrial landscape.

The remarkable growth in the coal sector can be attributed to a significant upsurge in coal production during February 2024, with output soaring to 96.60 million tonnes, reflecting an impressive 11.83% increase compared to the same period last year.

The stellar performance of the coal sector bodes well for India’s industrial growth trajectory, reaffirming its pivotal role in powering key sectors and driving economic development.

The consistent expansion in coal production signals positive momentum for India’s energy sector, providing a strong foundation for sustainable growth and resilience in the face of evolving global challenges.

The Ministry’s report underscores the importance of continued focus on enhancing efficiency and productivity in core industries, fostering innovation, and leveraging technological advancements to sustain the momentum of industrial growth and propel India towards its developmental goals.

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