During Nov 2024, the coal sector recorded remarkable growth with a provisional increase of 7.5%, reaching 199.6 points compared to 185.7 points in November 2023. This performance is part of the overall results from the Index of Eight Core Industries (ICI), which is released by the Ministry of Commerce & Industries.
The base year for the ICI is 2011-12. During the period from April to November 2024, the coal industry’s index reached 172.9 points, a notable increase from 162.5 points in the same period of the previous year. This represents the highest growth rate (6.4%) among all eight core industries. The ICI tracks the performance of eight core industries, namely cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel. This composite index provides valuable insights into the overall industrial performance of the economy.
In November 2024, the Combined Index of Eight Core Industries saw a significant increase of 4.3% compared to the same period in the previous year. Similarly, from April to November 2024, the index grew by 4.2%, highlighting the contribution of the coal sector to the broader industrial growth.
The primary driver behind the impressive growth in the coal sector is the substantial increase in coal production. During the period from April to November 2024, coal output surged to 628.4 million tonnes, marking a 6.4% rise compared to the same period in the previous year. This surge reflects the sector’s ability to meet the increasing energy and manufacturing demands, underscoring its importance to the economy.
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