Page 20 - Policy Economic Report_Mar'25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

? In the industry group “Manufacture of basic metals,” item groups “Flat products of Alloy Steel “,
“Pipes and tubes of Steel”,” MS blooms/ billets/ ingots/ pencil ingots” have shown significant
contribution in growth.

? In the industry group “Manufacture of coke and refined petroleum products,” item groups
“Diesel,” “Petrol/ motor spirit,” “Liquefied Petroleum Gas (LPG)” have shown significant
contribution in growth.

? In the industry group “Manufacture of electrical equipment” item groups “Transformers (Small)
“, “End facing connector for optical fibres and cables,” “Electric heaters” have shown significant
contribution in growth.

? As per the use base classification, the indices stand at 162.8 for Primary Goods, 116.8 for Capital
Goods, 172.3 for Intermediate Goods and 199.6 for Infrastructure/ Construction Goods for the
month of January 2025. Further, the indices for Consumer durables and Consumer non-durables
stand at 130.2 and 164.5 respectively.

Figure 12: Monthly Indices and Growth Rate (in %) of IIP for the last 13 months

Source- MoSPI

India’s external position

India’s forex reserves

? India’s foreign exchange reserves saw an increase of USD 305 million, reaching USD 654.271 billion
in the week ending March 14, according to the latest data from the Reserve Bank of India (RBI).

? foreign currency assets (FCA)—the largest component of India’s forex reserves—stand at USD
557.186 billion, while gold reserves are valued at USD 74.391 billion.

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