Growth in India’s eight core sectors decelerated to 4.3% in November 2024, compared to a robust 7.9% in the same month last year, according to official data released on Tuesday, December 31. However, the monthly production growth saw an uptick from 3.7% recorded in October 2024.
Sector-Wise Performance
- Cement: Cement production emerged as the top performer, posting a remarkable 13% growth in November, a significant rise from 3.1% in October.
- Electricity: Electricity generation saw a steady rise at 3.8%, compared to 2% in the previous month.
- Fertiliser: Fertiliser production grew by 2%, improving from the 0.4% growth seen in October.
- Coal: Coal production maintained stable growth at 7.5%, marginally lower than October’s 7.8%.
On the downside, the following sectors showed weaker performance:
- Crude Oil: Production contracted by 2.1%, improving slightly from the 4.8% decline in October.
- Natural Gas: Output decreased by 1.9%, down from a 1.2% contraction previously.
- Refinery Products: Growth moderated to 2.9%, lower than the 5.2% recorded in October.
- Steel: Production growth slowed to 4.8%, down from 5.2% in October.
Contribution to Industrial Output
The eight core sectors—coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity—collectively contribute 40.27% to the Index of Industrial Production (IIP), which gauges overall industrial growth.
