In August 2024, India's eight core industries contracted by 1.8% YoY for the first time in 42 months.

In August 2024, India's eight core industries contracted by 1.8% year-on-year, marking their first decline in 42 months. Key sectors like coal, crude oil, and electricity saw significant declines, while steel and fertilizers recorded growth of 4.5% and 3.2%, respectively. Overall, the cumulative growth for these sectors from April to August 2024 was 4.6%, a decrease from 8% in the previous year, largely due to adverse weather impacts on production.

September 30, 2024
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