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The Ministry of Commerce & Industries revealed a notable surge in the Coal Industry Index, showcasing a remarkable 10.9% growth among the eight core industries in November 2023. This sector achieved an index of 185.7 points compared to 167.5 points during the same period last year, signalling substantial progress. The cumulative index for the April-November period of 2023-24 soared by 12.8% over the corresponding timeframe of the previous year.
The comprehensive Index of eight Core Industries reflected a commendable 7.8% provisional increase in November 2023 compared to the prior year.
The Index of Coal Industry (ICI) measures both the collective and individual production performance of essential sectors, including cement, coal, crude oil, electricity, fertilisers, natural gas, refinery products, and steel.
This growth surge primarily stems from a significant upswing in coal production, which peaked at 84.52 Million Tonnes (MT) in November 2023, surpassing the 76.16 MT output of the corresponding month in the previous year, marking an impressive uptick of 10.97%.
The Ministry of Coal played a pivotal role in propelling this expansion through strategic initiatives. These efforts involved bolstering domestic production via auction-based regimes for commercial coal mining, engaging Mine Developer cum Operators (MDOs) to ramp up coal output, and reviving discontinued mines under a revenue-sharing model to enhance production.
The noteworthy advancement in the coal sector stands as a testament to the continuous endeavours led by the Coal Ministry. These initiatives align with the vision of "Atmanirbhar Bharat" (Self-reliant India), significantly contributing to the nation's march towards self-sufficiency and fortified energy security.
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