Six core industries grow 3.5 percent in October

New Delhi, Nov 27 ( India’s six core sectors grew 3.5 percent in October compared to the same month last year, according to data released by the commerce and industry ministry Friday.

The six sectors have a weightage of 26.7 percent in the index of industrial production (IIP) — the barometer statistic which gauges the growth rate of Indian industry.

While petroleum refinery production registered a growth of 7.2 percent, cement production grew by 5.3 percent, coal by 5 percent, and electricity by 4.7 percent in October.

Production of finished carbon grew at a lower pace of 1.1 percent, while crude oil saw a decline of 2.2 percent.

However, on a sequential basis, the growth rate of the six sectors has been on the decline from 7.8 percent in August and 4.1 percent in September to 3.5 percent in October this year.