India's core sector growth up 8.9% YoY in June

The combined Index of Eight Core Industries stood at 126.6 in June 2021, which increased 8.9 per cent as compared to the June 2020 index.

The production of coal, natural gas, refinery products, fertilisers, steel, cement and electricity industries increased in June 2021 over the corresponding period last year.

The final growth rate of Index of Eight Core Industries for March 2021 has also been revised to 12.6 per cent from its provisional level 6.8 per cent, the ministry of commerce and industry said in a statement.

The growth rate of Index of Eight Core Industries during April-June 2021-22 stood at 25.3 per cent as compared to the corresponding period of last FY.

Among the core industries, coal production increased 7.4 per cent YoY in June, while crude oil production saw 1.8 per cent per decline. Natural gas and petroleum refinery products increased 20.6 per cent and 2.4 per cent, respectively.

Fertilisers production in June increased 2 per cent, while steel production increased significantly by 25 per cent YoY. Cement and electricity production increased 4.3 per cent and 7.2 per cent YoY, respectively, in June.

The Index of Eight Core Industries measures combined and individual performance of production in selected eight core industries -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.

The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

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