Eight core industries grow 4.3% in November 2024; cement leads with 13%
The Index of Eight Core Industries was released by the Commerce Ministry on 31 December 2024.
Summary
The Index of Eight Core Industries (ICI) grew by 4.3% (provisional) in November 2024 over November 2023, according to data released by the Ministry of Commerce and Industry on 31 December 2024. Cement recorded the highest growth at 13.0%, followed by coal (7.5%), steel (4.8%), electricity (3.8%), refinery products (2.9%) and fertilizers (2.0%), while crude oil (−2.1%) and natural gas (−1.9%) contracted. Cumulative growth for April–November 2024-25 was 4.2%, and the final growth for August 2024 was revised to −1.5%. Within the index, refinery products carry the highest weight (28.04%), followed by electricity (19.85%) and steel (17.92%).
Key facts
- Released
- 31 December 2024, Ministry of Commerce and Industry
- November 2024 growth
- 4.3% (provisional)
- April–November 2024-25
- 4.2%
- Highest
- Cement 13.0%
- Others
- Coal 7.5%, Steel 4.8%, Electricity 3.8%, Refinery 2.9%, Fertilizers 2.0%
- Contracted
- Crude oil −2.1%, Natural gas −1.9%
- August 2024 (final)
- −1.5%
- Weights
- Refinery 28.04%, Electricity 19.85%, Steel 17.92%
Practice MCQs 3 questions
Which core industry recorded the highest growth in November 2024 as per the Index of Eight Core Industries released on 31 December 2024?
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Correct answer: D — Cement
PIB (Commerce): cement grew 13.0% in November 2024, the highest; coal grew 7.5%, steel 4.8% and electricity 3.8%.
Which two core industries contracted in November 2024?
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Correct answer: A — Crude oil and natural gas
PIB (Commerce): crude oil (−2.1%) and natural gas (−1.9%) contracted; fertilizers (2.0%), refinery products (2.9%) and coal (7.5%) grew.
Consider the following statements about the Index of Eight Core Industries data released on 31 December 2024: 1. Cumulative growth for April–November 2024-25 was 4.2%. 2. The final growth rate for August 2024 was revised to −1.5%. 3. Electricity has a higher weight in the index than refinery products. Which of the statements given above are correct?
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Correct answer: A — 1 and 2 only
PIB (Commerce): April–November growth was 4.2% and August 2024 was revised to −1.5%; refinery products (28.04%) outweigh electricity (19.85%), so statement 3 is wrong.