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www.projectstoday.com February 2025Economic Review 5During the month, the growth rates of the three major sectors, Mining, Manufacturing and Electricity stood at 1.9 percent, 5.8 percent and 4.4 percent respectively. Similarly, the Quick Estimates of IIP stood at 148.4 against 141.1 in November 2023. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2024 stand at 133.8, 147.4 and 184.1 respectively.Based on use-based classification, top three positive contributors to the growth of IIP for the month of November 2024 were Primary goods, Capital goods, and Intermediate goods.EIGHT INFRA INDUSTRIES The combined Index of Eight Core Industries (ICI) increased by 4.0 percent (provisional) in December 2024 as compared to the Index in December 2023. The production of Cement, Coal, Steel, Electricity, Refinery Products, Crude Oil, and Fertilizers recorded positive growth in December 2024 vis-%u00e0-vis December 2023. On the other hand, Natural Gas productions declined in December 2024.,Overview of Index of Eight Core IndustriesCoal production increased by 5.3 percent in December, 2024 over December, 2023. Its cumulative index increased by 6.2 percent during April to December, 2024-25 over corresponding period of the previous year. Petroleum Refinery production increased by 2.8 percent in December, 2024 over December, 2023. Its cumulative index increased by 2.7 percent during April to December, 2024-25 over corresponding period of the previous year.Fertiliser production increased by 1.7 percent in December, 2024 over December, 2023. Its cumulative index increased by 1.6 percent during April to December, 2024-25 over corresponding period of the previous year.Steel production increased by 5.1 percent in December, 2024 over December, 2023. Its cumulative index increased by 5.8 percent during April to December, 2024-25 over corresponding period of the previous year.Cement production increased by 4.0 percent in December, 2024 over December, 2023. Its cumulative index increased by 3.3 percent during April to December, 2024-25 over corresponding period of the previous year.Electricity generation increased by 5.1 percent in December, 2024 over December, 2023. Its cumulative index increased by 5.3 percent during April to December, 2024-25 over corresponding period of the previous year.Crude Oil production increased by 0.6 percent in December, 2024 over December, 2023. Its cumulative index however, declined by 2.1 percent during April to December, 2024-25 over corresponding period of the previous year.Natural Gas production declined by 1.8 percent in December, 2024 over December, 2023. But its cumulative index increased by 0.7 percent during April to December, 2024-25 over corresponding period of the previous year.The final growth rate of Index of Eight Core Industries for September 2024 increased by 2.4 percent. The cumulative growth rate of ICI during April to December, 2024-25 is 4.2 percent (provisional) as compared to the corresponding period of last year.FOREIGN TRADEIndia%u2019s total exports (including merchandise and services) for December 2024 is estimated at USD 70.67 billion, registering a slight growth of 0.92 percent compared to December 2023. Total imports (including merchandise and services) for December 2024 are projected to be USD 77.44 billion, showing a positive growth of 6.4 percent compared to December 2023.ExportsThe Merchandise exports in December 2024 were USD 38.01 billion, as compared to USD 38.39 billion in December 2023. The estimated value of Services exports for December 2024 was USD 32.66 billion up from USD 31.63 billion in December 2023.Non-Petroleum exports were USD 33.09 billion in December 2024 compared to USD 31.05 billion in December 2023. Non-petroleum, Non-Gems & Jewellery (gold, silver & precious metals) exports were USD 30.96 billion in December 2024 compared to USD 28.60 billion in December 2023.The overall exports (Merchandise and Services combined) in April-December 2024 were USD 602.64 billion as against USD 568.36 billion in April-December 2023.