India’s core sector output flat in October as coal, power drag

India’s annual growth in output from its eight core infrastructure sectors was flat in October, government data showed on Thursday, as sharp declines in coal and electricity offset gains in steel, cement and refinery products.

The Index of Eight Core Industries (ICI), which accounts for 40.27% of the country’s industrial output, stood unchanged at 162.4 in October from a year earlier, the Ministry of Commerce and Industry said.

Coal production fell 8.5% year-on-year, while electricity generation dropped 7.6%.

Natural gas production also contracted 5%, and crude oil output slipped 1.2% year-on-year.

These declines overshadowed strong performances in steel, fertiliser and refinery products.

Refinery products rose 4.6%, steel output grew 6.7%, cement production increased 5.3%, and fertiliser output climbed 7.4%.

The core sector grew 3.3% in September, the ministry said, revising the figure from earlier estimates.

During April–October, the first seven months of the fiscal year that ends in March, core sector output grew 2.5% compared with the same period a year earlier.