Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The coal sector has emerged as the top performer among the eight core industries, showcasing an impressive growth rate of 10.6% (provisional) in December 2023, according to the latest data released by the Ministry of Commerce & Industries. The Index of Coal Industry (ICI) surged to 204.0 points in December 2023 from 184.4 points during the same period last year, marking a cumulative growth of 12.5% from April to December 2023-24 over the corresponding period of the previous year. The data further indicates a 3.8% increase in the Combined Index of Eight Core Industries for December 2023 compared to the same period of the previous year. The ICI measures the production performance of eight core industries, including cement, coal, crude oil, electricity, fertilisers, natural gas, refinery products, and steel. With a weightage of 10.33% in the ICI, the coal sector has significantly contributed to the overall growth of the eight core industries, demonstrating double-digit growth for the past six months. This growth surpasses the overall growth of the eight core industries observed in the last two financial years. The remarkable expansion of the coal sector can be attributed to a substantial increase in coal production, reaching 92.92 million tonnes (MT) in December 2023 compared to 83.91 MT in the corresponding month of the previous year, representing a notable growth of 10.74%. The outstanding performance of the coal sector not only reflects its pivotal role in driving the growth of core industries but also underscores the Ministry of Coal's proactive efforts and initiatives. These endeavours are in line with the vision of "Atmanirbhar Bharat" and contribute significantly to the nation's journey towards self-sufficiency and energy security.
Also Read : Odisha to receive 1,463 MW boost in power capacity with NTPC's new projects Some stranded Russian Sokol oil cargoes begin to move to China, India
Union Minister of Road Transport & Highways, Nitin Gadkari, has unveiled a significant allocatio...
Press Releases 06-Feb-2024
Suzlon, a renewable energy solutions provider, has received an order from EDF Renewables for a 30 MW...
Large Corporate 29-Feb-2024
The Indian auto industry plans to invest up to $7 billion, or roughly ₹58,000 crore, by FY28 in orde...
Automobiles 01-Mar-2024
Central Coalfields (CCL), a subsidiary of Coal India, is considering a joint venture (JV) with the J...
Large Corporate 22-Jan-2024
Malaysia Renews Anti-Dumping Duties on Chinese, Japanese Iron and Steel Imports Government Moves to...
Business 21-Jun-2025
The government is reviewing Reserve Bank of India draft rules requesting to raise provisioning in in...
Taxation 08-May-2024