India’s core sector output, that measures production by eight industries, grew 12.1 per cent in October compared to the same time last year, the government said on Thursday.
A low base effect and double-digit growth in four industries – electricity, coal, steel, and cement – drove up production. The core sector output had recorded a 0.7 per cent growth in October 2022.
The figures for September were revised upward to 9.2 per cent from 8.1 per cent earlier.
“This is a good sign as it reflects higher levels of activity in the infra space, which has been supported by the central government and some state governments,” said Madan Sabnavis, chief economist, Bank of Baroda about the October numbers.
