Coal sector shows highest growth of 14.8 pc among eight core industries in June 2024

New Delhi [India] August 2 (ANI): The coal sector has demonstrated the highest growth of 14.8 per cent, among the eight core industries for the month of June 2024 as per the Index of Eight Core Industries released this week by the Ministry of Commerce and Industries.

The index of the coal industry reached 186.4 points during June’24 as compared to 162.4 points during the same period of last year and its cumulative index has increased by 10.8 per cent between April to June, in FY25 over the corresponding period of the previous year.

The Index of Core Industries (ICI) measures the combined and individual production performance of eight core industries, cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel.

The Combined Index of Eight Core Industries experienced a notable 4.0% increase in June 2024, compared to the same period of the previous year, underscoring the coal sector’s substantial contribution to overall industrial expansion.

The coal sector has consistently outperformed other sectors, demonstrating substantially higher growth than the overall growth of eight core industries in last two years.

This remarkable growth can be attributed to a significant surge in coal production during June 2024, with output reaching an impressive 84.71 million tonnes, which is an increase of 14.6 per cent compared to the same period of the previous year. This surge in production underscores the sector’s capacity to meet the growing demand of energy and manufacturing industries.

In July as well the coal sector has outperformed. The Cumulative Coal Production, up to July 2024 is recorded at 321.45MT in FY25 as compared to 292.80 MT during the same period in FY24, a growth of 9.78 per cent.

Total Coal dispatch also witnessed a significant boost in July 2024, touching 79.54 MT, compared to 76.05 MT recorded in July 2023, a growth rate of 4.58%. The Cumulative Coal dispatch, up to July 2024 stood at 341.61 MT in FY25, compared to 316.54 MT during the corresponding period in FY24 a growth of 7.92 per cent.

As of July 31, 2024, coal stocks held by coal companies witnessed a notable surge, reaching 86.8 MT. This surge reflects an impressive annual growth rate of 43.85 per cent underscoring the robust performance and efficiency of the coal sector.

The above statistics underscores the coal sector’s resilience and commitment to meeting the nation’s energy demands toward an Atmanirbhar Bharat.