The coal sector in India experienced the highest growth of 11.6 percent (provisional) among the eight core industries in Feb 2024 according to the Ministry of Commerce and Industries’ release of the Index of Eight Core Industries (ICI).
During February 2024, the coal industry index reached 212.1 points, compared to 190.1 points in the same period last year. Additionally, its cumulative index increased by 12.1 percent during April to February 2023-24 compared to the corresponding period of the previous year.
The Index assesses the collective and individual production performance of eight core industries, namely cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel.
The Combined Index of Eight Core Industries saw a 6.7 percent increase compared to the same period of the previous year in Feb 2024.
The coal sector has consistently surpassed expectations, showcasing sustained double-digit growth over the past eight months and significantly outpacing the overall growth of the eight core industries in the last two financial years.
This remarkable growth can be attributed to a substantial surge in coal production during February 2024, reaching 96.60 million tonnes, marking an 11.83 percent increase compared to the same period the previous year.