Coal Sector achieves growth of 10.2 % among Eight Core Industries in May, 2024

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.

Coal Sector achieves growth of 10.2 % among Eight Core Industries in May, 2024

The coal sector showed the highest growth at 10.2% (provisional) in May 2024, following the electricity industry, according to the Index of Eight Core Industries (ICI) (Base Year 2011-12) released by the Ministry of Commerce and Industries.

The index of the coal industry reached 184.7 points during May 2024 compared to 167.6 points during the same period last year. Its cumulative index has increased by 8.9% 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: cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel.

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The Combined Index of Eight Core Industries experienced a notable 6.3% 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 noteworthy increase of 10.15% compared to the same period in the previous year. This surge in production underscores the sector's capacity to meet the growing demand of energy and manufacturing industries.

 

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The exceptional expansion of the coal sector, coupled with its substantial role in propelling the overall growth of the eight core industries, stands as evidence of the Ministry of Coal's persistent endeavours and proactive initiatives. These efforts align with the vision of "Atmanirbhar Bharat" and contribute to the nation's progress towards self-sufficiency and energy security.

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