Coal Sector Leads Core Industries Growth in Feb 2024

The coal sector has exhibited highest growth of 11.6 % (provisional) among the eight core industries for the month of February 2024 as per the Index of Eight Core Industries (ICI)) (Base Year 2011-12) released by Ministry of Commerce & Industries. The index of coal industry has reached 212.1 points during Feb’24 as compared to 190.1 points during the same period of last year and its cumulative index has increased by 12.1% during April to February, 2023-24 over corresponding period of the previous year.

The Index of Eight Core Industries (ICI) measures the combined and individual production performance of eight core industries, viz. cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel.

The Combined Index of Eight Core Industries experienced 6.7% increase in February 2024, compared to the same period of previous year.

The coal industry has consistently outperformed demonstrating sustained double-digit growth over the past eight months and substantially higher growth than the overall growth of eight core industries in last two financial years.

The driving force behind this remarkable growth can be attributed to a significant surge in coal production during February 2024, with output reaching 96.60 million tonnes, marking an increase of 11.83% compared to the same period in the previous year.