Combined Index of Eight Core Industries (ICI) increases by 5.2% (provisional) in March 2024 as compared to March 2023
- Press Information Bureau
- May 1, 2024
The Index of Eight Core Industries (ICI) rose by 5.2% (provisional) in March 2024 compared to March 2023, driven by positive growth in Cement, Coal, Electricity, Natural Gas, Steel, and Crude Oil production. These industries collectively account for 40.27% of the Index of Industrial Production (IIP).
Cement production surged by 10.6%, Coal by 8.7%, Crude Oil by 2.0%, Electricity by 8.0%, Natural Gas by 6.3%, and Steel by 5.5% in March 2024 compared to the previous year. However, Fertilizer production witnessed a decline of 1.3%, while Petroleum Refinery Products slightly decreased by 0.3%. The cumulative growth rate of the ICI for the fiscal year 2023-24 stood at 7.5% (provisional), indicating steady expansion across these core industries.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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