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Coal sector records 16.1% growth in September 2023: Centre

Nov 3, 2023

By: BlinkX Research Team

Coal sector has showcased significant growth of 16.1% in September 2023, reaching 148.1 points compared to 127.5 points during the same period last year, according to the index of eight core industries released by the Ministry of Commerce & Industries. The growth is the highest growth in last 14 months except for August 2023.

The latest data indicates that the Combined Index of eight Core Industries has recorded a noteworthy increase of 8.1% (Provisional) in September 2023 compared to the same period in the previous year.

The Index comprehensively measures the production performance of eight core industries, including cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel, as per the press release.

Notably, the remarkable growth in the coal sector can be primarily attributed to a substantial upswing in coal production during September 2023, with an impressive 67.27 million tonnes (MT) of coal being produced, the Ministry said.

Further, this achievement significantly surpasses the 58.04 MT produced during the corresponding period of the previous year, marking an outstanding increase of 15.91 per cent.

The coal industry has displayed consistent and sustained growth, with a growth rate of 9.1% in April 2023, which escalated to 16.1% in September 2023.