India’s core sector growth moderated to 4% in December 2024 compared to the same period last year, reflecting a slowdown amid mixed performance across key industries. The cumulative growth for the April-December period of FY25 stood at 4.2%, highlighting subdued momentum compared to previous years. Sectors like coal, steel, and electricity reported strong YoY increases, while natural gas and crude oil continued to drag overall growth. The data indicates evolving demand and production dynamics across core industries.
Index of Eight Core Industries (ICI) rose by 4% in December 2024 compared to December 2023: Here are the key sectoral details for December 2024:
- Coal Production: Increased by 5.3% YoY, with cumulative growth of 6.2% from April to December 2024-25.
- Crude Oil: Marginal growth of 0.6% YoY, but a cumulative decline of 2.1%.
- Natural Gas: Declined by 1.8% YoY, though cumulative growth was up by 0.7%.
- Petroleum Refinery Products: Grew by 2.8% YoY, with a cumulative increase of 2.7%.
- Fertilizers: Increased by 1.7% YoY, with a cumulative growth of 1.6%.
- Steel: Production rose by 5.1% YoY, with a cumulative growth of 5.8%.
- Cement: Increased by 4% YoY, with cumulative growth standing at 3.3%.
- Electricity: Grew by 5.1% YoY, contributing to a cumulative increase of 5.3%.
Overall, the cumulative growth rate for the April-December 2024-25 period was 4.2%, reflecting a slowdown compared to the previous year’s growth.
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