India’s infrastructure output jumps 7.9% in September on strong coal, steel growth
The latest numbers from the Indian government show that the country's infrastructure output has jumped by 7.9% compared to last year, as of September. This index measures the activity across nine different sectors, which gives us a good idea of how the economy is doing. It's a positive sign for growth!
India's infrastructure output surged by 7.9% in September compared to the previous year, driven by robust growth in key sectors, government data released on Wednesday revealed. The core sector, which accounts for nearly one-third of the nation's industrial production, witnessed a significant expansion, bucking the trend of 3.1% growth in the same period last year. The index, now using 2022-23 as its base year, includes nine crucial infrastructure sectors, with iron ore emerging as the standout performer for the month.
Iron ore production experienced the most pronounced increase, expanding by an impressive 18.4% year-on-year in September. Electricity generation followed closely, with a notable rise of 11.4%. Coal output also climbed by 10.7%, while refinery products grew by 10.3% and cement production expanded by 9.8%. Steel output, although smaller at 4.9%, added to the overall uplift in core sector output.
However, not all sectors fared well. Fertilizers, natural gas, and crude oil sectors reported a contraction in September. The data encompasses nine key infrastructure sectors under the revamped Index of Core Industries (ICI), which uses 2022-23 as its base year and includes iron ore as the ninth sector. The new series has replaced the earlier 2011-12-based series, providing a more accurate reflection of India's industrial performance.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
