Index of Eight Core Industries rises by 7.9%

Final growth rate of the Index for June revised to 13.1%

GN Bureau | October 31, 2022


#Industry   #Economy  
(File photo: GN)
(File photo: GN)

The combined Index of Eight Core Industries increased by 7.9% (provisional) in September 2022 over the same month a year ago. The production of cement, coal, fertilizers, electricity, steel and refinery products industries increased in September 2022 over September 2021. ICI measures combined and individual performance of production in selected eight core industries – coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity. The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

The final growth rate of the Index of Eight Core Industries for June 2022, meanwhile, is revised to 13.1% from its provisional level 12.7%. The cumulative growth rate of ICI during April-September 2022-23 was 9.6% (P) as compared to the corresponding period of last year, an official release said on Monday.

A summary of the Index of Eight Core Industries:

Coal: Coal production (weight: 10.33%) increased by 12.0% in September 2022 over September 2021. Its cumulative index increased by 21.0% during April-September 2022-23 over the corresponding period of the previous year.

Crude Oil: Crude oil production (weight: 8.98%) declined by 2.3%. Its cumulative index declined by 1.3% during April-September 2022-23 over the corresponding period of previous year.
 
Natural Gas: Natural gas production (weight: 6.88%) declined by 1.7% in September 2022 over September 2021. Its cumulative index increased by 1.8% during April-September 2022-23 over the corresponding period of previous year.

Petroleum Refinery Products: Petroleum refinery production (weight: 28.04%) increased by 6.6% in September 2022 over September 2021. Its cumulative index increased by 10.1% during April-September 2022-23 over the corresponding period of previous year.

Fertilizers: Fertilizers production (weight: 2.63%) increased by 11.8% in September 2022 over September 2021. Its cumulative index increased by 11.5% during April-September 2022-23 over the corresponding period of previous year.

Steel: Steel production (weight: 17.92%) increased by 6.7% in September 2022 over September 2021. Its cumulative index increased by 6.4% during April-September 2022-23 over the corresponding period of previous year.

Cement: Cement production (weight: 5.37%) increased by 12.1% in September 2022 over September 2021. Its cumulative index increased by 10.9% during April-September 2022-23 over the corresponding period of previous year.

Electricity: Electricity generation (weight: 19.85%) increased by 11.0% in September 2022 over September 2021. Its cumulative index increased by 10.7% during April-September 2022-23 over the corresponding period of previous year.
 

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