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Output Of 8 Core Sectors Increased By 7.5% In October

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The output of 8 core sectors in India has increased by 7.5% in October, according to the latest government data, published on November 30. The growth has been possible for healthy performance by coal, natural gas, refinery products, and cement segments. Growth in output for the core industries indicates that the country's manufacturing segment is improving.

 
Output Of 8 Core Sectors Increased By 7.5% In October

The 8 core industries are namely coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity. Core sectors' growth stood at 4.5% in September this year, which is an affirmative signal for the overall economic growth of the country. With intensified vaccination drive, India is recoverying from economic downturn, slowly.

However, production of these 8 infrastructure sectors had contracted by 0.5% in October, in the last year, when the pandemic was at its peak, the commerce and industry ministry said.

Sector-wise growth in October 2021 (Year on Year)

Coal production increased by 14.6%, Crude Oil production declined by 2.2%, Natural Gas production increased by 25.8%, Natural Gas production increased by 25.8%, Fertilizers production increased by 0.04%, Steel production increased by 0.9%, Cement production increased by 14.5%, and Electricity generation increased by 2.8%.

In India, the 8 core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP). PIB in a report mentioned, "During April-October this fiscal, the sectors' output rose by 15.1% as compared to a contraction of 12.6% in the same period of the previous year."

However, on November 30, India's GDP data for the 2nd quarter of 2021-22 also came out that stated, "India's economic growth slowed to 8.4% in the second quarter of 2021-22, mainly due to waning low base effect."

Read more about: gdp economy manufacturing
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