The combined Index of Eight Core Industries (ICI) remained unchanged at 162.4 (provisional) as compared to the Index in the October.
According to data released by the governemnt gains in refinery products, fertilisers, steel and cement were offset by sharp declines in coal, natural gas and electricity generation.
The ICI measures eight core sectors—coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity— which account for 40.27% of the country’s Index of Industrial Production (IIP).
Refinery, fertiliser, steel and cement gains
In October, four of these industries reported growth. Refinery product output rose 4.6% year-on-year (YoY), while fertiliser production grew 7.4%. Steel output increased 6.7% and cement production was up 5.3% compared to the same month last year.
Coal, gas and power output decline
However, the positive momentum was weighed down by declines in key segments. Coal production dropped 8.5%, natural gas output fell 5%, and electricity generation declined 7.6%. Crude oil production also saw a marginal fall of 1.2%.