Eight core industries grow 3.1% in October 2024
On 29 November 2024, the Commerce and Industry Ministry reported that the Index of Eight Core Industries rose 3.1% (provisional) in October 2024 over October 2023.
Summary
On 29 November 2024, the Ministry of Commerce and Industry released the Index of Eight Core Industries (base 2011-12=100) for October 2024. The combined index rose 3.1% (provisional) over October 2023, with positive growth in coal, refinery products, steel, cement, electricity and fertilisers. Coal rose 7.8%, refinery products 5.2% and steel 4.2%, while crude oil fell 4.8% and natural gas 1.2%. Cumulative growth for April–October 2024-25 was 4.1%. The eight core industries make up 40.27% of the weight of items in the Index of Industrial Production (IIP). Within the index, petroleum refinery products carry the largest weight (28.04%), followed by electricity (19.85%) and steel (17.92%).
Key facts
- October 2024
- +3.1% (provisional)
- Apr–Oct 2024-25
- +4.1%
- Gainers/decliners
- Coal +7.8%, Refinery +5.2%, Steel +4.2%; Crude −4.8%, Gas −1.2%
- Weight in IIP
- 40.27%
- Largest weights
- Refinery 28.04%, Electricity 19.85%, Steel 17.92%
Practice MCQs 2 questions
By how much did the combined Index of Eight Core Industries grow in October 2024 (provisional), as released on 29 November 2024?
Show answer
Correct answer: C — 3.1%
PIB (Commerce): the ICI increased by 3.1% (provisional) in October 2024 over October 2023. 4.1% is the April–October cumulative growth and 6.3% the final July 2024 figure.
Which of the eight core industries carries the highest weight in the Index of Eight Core Industries?
Show answer
Correct answer: D — Petroleum Refinery Products
PIB (Commerce): weights are Refinery Products 28.04%, Electricity 19.85%, Steel 17.92% and Coal 10.33%.