New Delhi, Sep 21 (IANS): Driven by growth in sectors like cement, electricity, and iron ore, India’s core industrial activity grew by 4.8 per cent (provisional) in August on a year-on-year basis.
The growth in the Index of Core Industries (ICI) was, however, slightly less than the growth rate of 5.0 per cent recorded in July (final index).
According to a Commerce Ministry statement, cement, electricity, iron ore, steel, and refinery products observed growth rates of 12.5 per cent, 11.6 per cent, 5.5 per cent, 3.4 per cent, and 2.6 per cent, respectively, last month.
Iron ore, electricity, and cement have been the major drivers of overall growth of industrial production during recent months.
On the other hand, coal, natural gas, crude oil, and fertilisers witnessed negative growth in August 2026.
Moreover, the cumulative growth rate of ICI during April-August was 4.3 per cent (provisional estimate) — compared to 2.4 per cent in the corresponding period of the previous year.
According to the official statement, the final index for the month of July has been revised from 121.2 (provisional estimate) to 120.8.
The annual growth rate has been revised from 5.4 per cent to 5.0 per cent for the month of July.
India’s manufacturing sector continues to expand in August amid softer demand conditions
The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), released the revised series of Index of Core Industries (ICI) with Base Year 2022-23 for the first time in July, for the data compiled for June this year. The new series has replaced the earlier series of ICI with Base Year 2011-12.
Meanwhile, India’s manufacturing sector continued to expand in August at 52.8, although firms reported softer demand conditions, which subsequently led to weaker increases in buying levels and stocks.
Despite the softer performance, business expectations strengthened. Around 16 per cent of survey participants forecast higher output over the coming 12 months, while the remainder expect no change from present levels. Confidence rose to its highest mark since May, but remained subdued by historical standards, according to the latest HSBC India Manufacturing PMI data.
