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India’s eight core industries’ production loses steam, down 2.6% in Nov

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India is the fastest growing market in the world for paperNew Delhi, Dec 31 (IANS) The production of India’s eight major industries decelerated on both sequential and on year-on-year basis during November, as the output pace receded by (-) 2.6 per cent.

The Index of Eight Core Industries’ reading in November showed a contraction greater than that of (-) 0.9 per cent registered in October.

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Though not comparable, on a YoY basis, the growth rate stood at 0.7 per cent in November 2019.

ECI index comprises of 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

Besides, the Ministry of Commerce & Industry in a statement revised the ECI index production rate in August to (-) 6.9 per cent.

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