India”s Core Industries Output Rose By 5.5 Percent In February

Employee work on the engines of Toyota cars inside the manufacturing plant of Toyota Kirloskar Motor in Bidadi, on the outskirts of Bengaluru, India, November 7, 2015. In a significant and potentially risky move in an Indian market that global automakers use as a test-bed for smaller, no-frills cars, Toyota Motor Corp is betting on pricier premium models offering better safety and quality. Picture taken November 7, 2015. To match Interview AUTOS-INDIA/TOYOTA REUTERS/Abhishek N. Chinnappa

The output pace of India”s eight major industries accelerated in February 2020 by 5.5 per cent from a rise of 1.4 per cent reported in January 2020.

This was the fourth consecutive month of rise for the Index of Eight Core Industries after three months of contraction.

Similarly, the Index of Eight Core Industries showed that last month”s expansion was higher on a year-on-year basis from 2.2 per cent growth rate reported for February 2019.

The eight core industries include coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.

As per the ECI, barring crude oil, natural gas and steel, all other sectors expanded in February.

The ECI comprises over 40 per cent of the weight of items included in the Index of Industrial Production (IIP).

With the inputs of IANS