New Delhi, May 1 (IANS) The output pace of India’s eight major industries decelerated in March to 4.1 per cent compared to an increase of 5.4 per cent in February, official data showed on Tuesday.
Even on a year-on-year (YoY) basis, the ‘Index of Eight Core Industries’ (ECI), which represent the output of major sectors like coal, steel, cement and electricity showed a downtrend. The index had registered a rise of 5.2 per cent during the corresponding month of 2017.
“The combined Index of Eight Core Industries stands at 138 in March, 2018, which was 4.1 per cent higher as compared to the index of March, 2017,” the Ministry of Commerce & Industry said in a statement.
“Its cumulative growth during April to March, 2017-18 was 4.2 per cent.”
The ECI index carries 40.27 per cent weightage of the Index of Industrial Production (IIP) which is the macro-gauge for India’s factory output.