The eight core sectors, accounting for over 40 percent of Index of Industrial Production (IIP), displayed negative growth trends for fourth consecutive month in November. The combined Index of Eight Core Industries stood at 126.3 in November, 2019, which marks a decline of 1.5per cent as compared to the index of November,2018.
The production in five of the eight core industries continued to be in negative territory which included coal, crude oil, natural gas and steel. However, core sectors like refinery products, cement and fertilizer defied the de-growth trend. Petroleum Refinery production increased by 3.1 per cent, while growth in Fertilizers production stood at a hefty 13.6 per cent in November,2019 overNovember,2018. Cement production grew by 4.1per cent. The positive trend witnessed in these three core sectors somewhat salvaged the situation and reduced the de-growth margin in the overall index.