Updated April 1st, 2024 at 21:23 IST

Coal sector leads with 11.6% growth among core industries in February

The coal industry's stellar performance is a testament to its sustained double-digit growth over the past eight months.

Reported by: Business Desk
coal | Image:Pexels
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The coal sector emerged as the top performer among the eight core industries, showcasing growth of 11.6 per cent (provisional) in February 2024, according to the latest data released by the Ministry of Commerce & Industries.

Based on the Index of Eight Core Industries (ICI) with a base year of 2011-12, the coal industry's index reached 212.1 points in February 2024, compared to 190.1 points during the same period last year. Moreover, the cumulative index for the coal sector has risen by 12.1 per cent during April to February 2023-24, showcasing consistent growth over the months.

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The ICI monitors and evaluates the production performance of key industries, including cement, coal, crude oil, electricity, fertilisers, natural gas, refinery products, and steel.

The overall Combined Index of Eight Core Industries witnessed a commendable 6.7 per cent increase in February 2024 compared to the corresponding period of the previous year.

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The coal industry's stellar performance is a testament to its sustained double-digit growth over the past eight months, outpacing the overall growth of the eight core industries in the last two financial years.

The robust growth trajectory in the coal sector can be primarily attributed to a significant upsurge in coal production during February 2024. The sector recorded an impressive output of 96.60 million tonnes, marking an 11.83 per cent increase from the same period in the previous year.

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The remarkable growth in the coal sector reflects its pivotal role in driving economic activity and meeting the nation's energy requirements. As the backbone of various industries, including power generation, steel manufacturing, and infrastructure development, the coal sector's performance serves as a vital indicator of overall economic health.
 

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Published April 1st, 2024 at 16:44 IST