In February 2024, the coal sector exhibited highest growth, with a substantial increase of 11.6% according to the latest data from the Index of Eight Core Industries (ICI) released by the Ministry of Commerce & Industries.
The index for the coal industry surged to 212.1 points, compared to 190.1 points during the same period last year. Additionally, the cumulative index for the coal sector has risen by 12.1% from April to February 2023-24, compared to the corresponding period in the previous year.
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.
The Combined Index of Eight Core Industries witnessed a notable 6.7% increase in February 2024, compared to the same period the previous year.
The coal industry has consistently outperformed demonstrating sustained double-digit growth over the past eight months and substantially higher growth than the overall growth of eight core industries in last two financial years.
This impressive growth in the coal industry can be attributed to a significant surge in coal production during February 2024. Output reached 96.60 million tonnes, marking an impressive increase of 11.83% compared to the same period in the previous year.