Core sectors' growth quickens to 5.4% in November

The October core industries growth has been revised higher to 0.9 percent from 0.1 percent earlier, the government data stated. (Representative image)

India's eight core sectors grew 5.4 percent in November, quickening from 3.2 percent growth in the same month last fiscal, the commerce ministry said in a statement on December 30. The eight core industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

The October core industries growth has been revised higher to 0.9 percent from 0.1 percent earlier, while the final growth rate of eight core for August was revised to 4.2 percent from its provisional level 3.3 percent, the ministry stated.

Output in five of the eight core sectors grew in November. These sectors include cement, coal, electricity, steel and fertilizer, it said.

The growth rate of the eight sectors during April-November 2022  was 8 percent compared to the corresponding period of the last financial year.

Meanwhile, production of coal rose 12.3 percent year-on-year in November, and electricity generation increased 12.1 percent, said the commerce ministry.

Refinery products output declined by 9.2 percent while fertilisers grew 6.4 percent in November from a year earlier.

Cement production rose 28.6 percent while steel output gained 10.8 percent in the last month.

Crude oil output declined 1.1 percent from a year earlier. Natural gas output fell 0.7 percent.