NEW DELHI, May 29 (Xinhua) -- The growth rate of index of eight core industries for April 2020 in India declined by 38.1 percent in wake of the ongoing nationwide lockdown that was imposed to contain the spread of COVID-19, data revealed by India's federal ministry of commerce and industry Friday said.
This is the second consecutive contraction in the eight key infrastructure sectors of the economy.
"The growth rate of index of eight core industries for April 2020 declined by 38.1 percent (provisional) compared to decline of 9 percent (provisional) previous month of March 2020," a statement issued by the ministry said. "In view of nationwide lockdown during April 2020 due to COVID-19 pandemic, various industries viz. Coal, Cement, Steel, Natural Gas, Refinery, Crude Oil experienced a substantial loss of production."
According to the ministry, final growth rate of index of eight core industries for January 2020 remains unchanged at 2.2 percent.
The eight core industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
A nationwide lockdown imposed on March 25 is underway in India to contain the COVID-19 pandemic. Since then, it has been extended thrice and is likely to end on Sunday (May 31).
The move has badly hit the Indian economy and resulted in the loss of jobs. Enditem
