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India's Core Industries Grow 5.4% in July

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India's combined Index of Core Industries (ICI) provisionally grew by 5.4% year over year in July, according to data released Monday.

The latest figure compares with a 6% rise in June, according to the Ministry of Commerce and Industry on Thursday.

The rise in IIP was driven majorly by iron ore, electricity, and cement.

Iron ore, cement, electricity, coal, steel, and refinery products logged a year-over-year increase of 29.5%, 13.1%, 9%, 7.6%, 2.9%, and 2.7%, respectively.

Natural gas, crude oil, and fertilizers, on the other hand, saw negative growth.

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