The coal sector has demonstrated the highest growth of 10.2 per cent (provisional), following the electricity industry among the eight core industries for the month of May, 2024 as per the Index of Eight Core Industries (ICI)) (Base Year 2011-12) released by the Ministry of Commerce & Industries.
The index of the coal industry has reached 184.7 points during May, 2024 as compared to 167.6 points during the same period of last year and its cumulative index has increased by 8.9 per cent from April to May, 2024-25 over the corresponding period of the previous year. The 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 a notable 6.3 per cent increase in May 2024, compared to the same period of the previous year, underscoring the coal sector's substantial contribution to overall industrial expansion. The coal industry has consistently outperformed its counterparts, demonstrating higher growth than the overall growth of eight core industries in the last two financial years.
The driving force behind this remarkable growth can be attributed to a significant surge in coal production during May 2024, with output reaching an impressive 83.91 million tonnes, marking a remarkable increase of 10.15 per cent compared to the same period in the previous year. This surge in production underscores the sector's capacity to meet growing demand of energy and manufacturing industries.
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