India’s core sector grows 11.6% in August: Government data

Coal production during the month of August increased by 20.6 per cent year-on-year, while the petroleum refinery production rose 9.1 per cent and electricity generation climbed 15.3 per cent on-year, the commerce ministry data showed.

Sumita Dawra noted that most of the potential investment being reviewed was set to come from foreign investors, with domestic investors being the source of interest for 345 projects with a proposed investment of $15 billion.

India’s Index of Eight Core Industries saw an 11.6 per cent rise to 133.5 in the month of August, according to the data released by the Ministry of Commerce & Industry.

The overall core sector growth during August last year was at -6.9 per cent, the data showed.

Coal production during the month of August increased by 20.6 per cent year-on-year, while the refinery production rose 9.1 per cent and electricity generation climbed 15.3 per cent on-year, the commerce ministry data showed.

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This apart, steel production increased by 5.1 per cent in August, while cement production surged 36.3 per cent. Natural gas production rose 20.6 per cent.

Among the sectors which saw negative growth during the said period were crude oil, and fertiliser which fell 2.3 per cent and 3.1 per cent respectively.

So far, in the financial year 2021-22, the April-August growth of the core industries was 19.3 per cent against a contraction of 17.3 per cent during the same period year-ago.