SME Times News Bureau | 31 Dec, 2019
Contraction in India's eight major industries
continued for the fourth consecutive month in November as the output pace
receded by -1.5 per cent.
However, the rate of contraction in November was slower than the sharp plunge
of -5.8 per cent registered in October.
On a year-on-year basis, the growth rate stood at 3.3 per cent in November
2018.
The eight core industries include coal, crude oil, natural gas, refinery
products, fertilisers, steel, cement and electricity.
According to the Index of Eight Core Industries, barring refinery products,
fertilisers and cement, all other sectors contracted in November.
The ECI comprises over 40 per cent of the weight of items included in the Index
of Industrial Production (IIP).