Coal Sector Records 10.9% Growth Among Eight Core Industries in Nov 2023
GG News Bureau
New Delhi, 1st Jan. The Index of Coal Industry experienced a growth of 10.9% (provisional) among eight core industries in November 2023, according to data released by the Ministry of Commerce & Industries.
The coal sector achieved 185.7 points in November, compared to 167.5 points during the same period last year. From April to November 2023-24, the cumulative index of the coal sector has increased by 12.8% compared to the previous year.
The latest data shows that the Combined Index of eight Core Industries has increased by 7.8% (provisional) in November 2023 compared to the previous year.
The Index of Coal Industry (ICI) measures the production performance of eight core industries, including cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel.
The growth in the Index of Coal Industry is mainly due to a significant increase in coal production in November 2023, reaching 84.52 Million Tonnes (MT), surpassing the 76.16 MT produced in the same month of the previous year, representing a remarkable increase of 10.97%.
The Ministry of Coal has played a crucial role in driving this growth through various strategic initiatives.
These initiatives include increasing domestic production through auction-based commercial coal mining, engaging Mine Developer Operators (MDOs) to ramp up coal output, and reopening discontinued mines on a revenue-sharing model.
The notable growth of the coal sector and its contribution to the overall growth of the eight core industries demonstrate the continuous efforts undertaken by the Coal Ministry.
These efforts align with the vision of Atmanirbhar Bharat and contribute to the nation’s progress towards self-sufficiency and energy security.
