TFP Bureau, New Delhi, July 4, 2024: The coal sector has achieved the highest growth among the eight core industries in May 2024, with a provisional increase of 10.2%, according to the Index of Eight Core Industries (ICI) released by the Ministry of Commerce & Industries. This remarkable performance follows closely behind the electricity sector.
The index for the coal industry reached 184.7 points in May 2024, up from 167.6 points in the same period last year. Additionally, the cumulative index for coal increased by 8.9% from April to May 2024-25 compared to the corresponding period of the previous year.
The ICI evaluates the combined and individual production performance of eight core industries: cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel. In May 2024, the combined index of these industries saw a notable 6.3% rise compared to the previous year, highlighting the coal sector’s substantial contribution to overall industrial growth. The coal industry has consistently outperformed other sectors, showing higher growth than the overall increase of the eight core industries over the last two financial years.
This significant growth in the coal sector can be attributed to a surge in production during May 2024, with output reaching 83.91 million tonnes, marking a 10.15% increase compared to the same period the previous year. This surge underscores the coal sector’s ability to meet the growing demands of energy and manufacturing industries.
The exceptional expansion of the coal sector, coupled with its substantial role in driving the overall growth of the eight core industries, underscores the Ministry of Coal’s persistent efforts and proactive initiatives. These achievements align with the vision of “Atmanirbhar Bharat” and contribute significantly to the nation’s progress towards self-sufficiency and energy security.
