Cement production lifts India’s industrial output
Higher production of cement and coal accelerated the output pace of India’s eight major industries in March to 4.7 per cent on sequential and year-on-year basis, official data showed on Tuesday.
According to the Ministry of Commerce and Industry data, the index of eight core industries had risen 4.5 per cent in March 2018. On a sequential basis, the core sector grew by 2.2 in February this year.
The core sector index carries 40.27 per cent weightage of the items included in the index of industrial production (IIP).
“The combined index of eight core industries stood at 145 in March 2019, which was 4.7 per cent higher compared with the index of March 2018. Its cumulative growth during April to March 2018-19 was 4.3 per cent,” the Ministry said in a statement.
On sector-specific basis, the output of refinery products, which has the highest weightage of 28.03, grew 4.3 per cent in March 2019 compared to the corresponding month of the last fiscal.