India's Core Sectors Growth Slows to 4% in June

India's core sectors witnessed a 4% growth in June 2024, following a 6.3% surge in May. Positive growth was recorded in coal, electricity, and natural gas production, while crude oil and petroleum refinery outputs saw declines.

India's core sectors showed a 4% annual growth for June 2024, as per official data from the commerce ministry released on Wednesday. This indicates a slowdown from the 6.3% growth noted in May 2024.

The index's eight core sectors, which include coal, electricity, natural gas, steel, fertilizer, cement, and petroleum refinery products, hold a 40.27% weightage in the Index of Industrial Production (IIP). Despite the overall slowdown, production in coal, electricity, and natural gas sectors recorded substantial year-on-year growth.

However, sectors like crude oil and petroleum refinery experienced declines. Cumulative growth from April to June 2024-25 stands at 5.7%, a slight dip from last year. Key figures show coal production up by 14.8% and electricity generation increased by 7.7%, while crude oil production fell by 2.6% in comparison to June 2023.