The combined index of eight core industries (ICI) which measures the combined and individual performance of the production of eight core industries -- cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products and steel – “eased to 5.2 per cent with five of the components reporting a flattening trend in the sequential months,” notes Aditi Nayar, Chief Economist ICRA.
Cement production increased by 10.6 per cent in March 2024 over March 2023, coal production increased by 8.7 per cent yoy and electricity generation increased by 8.0 per cent in March 2024, displaying healthy expansion and maintained a robust pace in April 2024, with rising heat likely boosting agricultural and household demand, notes Nayar.
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