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India's July Core Sector Output Grows At 9.4%

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In July, India's output of eight major industries increased by 9.4% year on year (YoY), with all sectors except crude oil seeing growth. In July, output increased by 5.4 percent month over month, following a 1.5 percent increase in June.

 

Because of COVID-19-related constraints, core sector output fell 7.6% in July 2020.

India's July Core Sector Output Grows At 9.4%

The core industries of an economy are the main or key industry. In India, the key sectors are divided into eight categories. Electricity, steel, refinery products, crude oil, coal, cement, natural gas, and fertilisers are the Indian economy's eight core industries.

These industries have a substantial impact on the Indian economy, as well as most other industries. The eight industries account for 40.27 percent of the Index of Industrial Production (IIP), which measures the pace of growth of various industrial groups over time.

Coal - In July 2021, coal production grew by 18.7% over July 2020. From April through July 2021-22, the cumulative index climbed by 10.5 percent over the same time the prior year.

Crude Oil-Crude Oil output (weighted average: 8.98%) fell by 3.2 percent in July 2021 compared to July 2020. Its cumulative index fell by 3.4 percent from April to July 2021-22, compared to the same time the previous year.

 

Natural Gas - In July 2021, natural gas output (weight: 6.88%) grew by 18.9% over July 2020. From April to July 2021-22, its cumulative index climbed by 21.0 percent over the same time the prior year.

Steel - Steel production increased by 9.3% in July 2021 compared to July 2020 (weight: 17.92%). From April through July 2021-22, the cumulative index climbed by 59.4 percent over the same time the prior year.

Cement - In July 2021, cement production (weight: 5.37%) increased by 21.8 percent over July 2020. From April through July 2021-22, its cumulative index climbed by 45.6 percent over the same time the prior year.

Electricity generation (weight: 19.85%) grew by 9.0 percent in July 2021 compared to July 2020. During April to July 2021-22, its cumulative index climbed by 14.6% over the previous year's similar period.

Read more about: gdp core sector
Story first published: Tuesday, August 31, 2021, 18:21 [IST]
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