Coal Sector Leads Growth Among Core Industries in February 2024

New Delhi: The coal sector has emerged as the frontrunner in growth among the eight core industries, exhibiting a remarkable surge of 11.6% (provisional) in the month of February 2024. This data comes from the Index of Eight Core Industries (ICI) released by the Ministry of Commerce & Industries, based on the base year 2011-12.

According to the report, the index of the coal industry reached 212.1 points in February 2024, compared to 190.1 points during the same period last year. Additionally, the cumulative index of the coal sector has witnessed a significant increase of 12.1% during the period of April to February, 2023-24, compared to the corresponding period of the previous year.

The ICI serves as a vital metric for measuring the production performance of eight core industries, including cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel.

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

The coal industry’s consistent outperformance is highlighted by its sustained double-digit growth over the past eight months, significantly surpassing the overall growth of the eight core industries in the last two financial years.

The driving force behind this remarkable growth trajectory is attributed to a substantial surge in coal production during February 2024. Output in the coal sector reached 96.60 million tonnes, reflecting a remarkable increase of 11.83% compared to the corresponding period in the previous year.