Combined Index of Eight Core Industries Increases by 0.1 % (Provisional) in October 2022

The combined Index of Eight Core Industries increased by 0.1 per cent (provisional) in October 2022 as compared to the Index of October 2021. The production of Fertilizers, Steel, Coal and Electricity generation increased in October 2022 over the corresponding month of last year. ICI measures combined and individual performance of production in selected eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP). Details of yearly and monthly indices and growth rates are provided at Annex I & II respectively.

2. Final growth rate of Index of Eight Core Industries for July 2022 is revised to 4.8% from its provisional level 4.5%. The cumulative growth rate of ICI during April-October 2022-23 was 8.2% (P) as compared to the corresponding period of last year.

3.      The summary of the Index of Eight Core Industries is given below:

Coal –Coal production (weight: 10.33 per cent) increased by 3.6 per cent in October, 2022 over October, 2021. Its cumulative index increased by 18.1 per cent during April to October, 2022-23 over corresponding period of the previous year.

Crude Oil–Crude Oil production (weight: 8.98 per cent) declined by 2.2 per cent in October, 2022 over October, 2021. Its cumulative index declined by 1.4 per cent during April to October, 2022-23 over the corresponding period of previous year.

Natural Gas - Natural Gas production (weight: 6.88 per cent) declined by 4.2 per cent in October, 2022 over October, 2021. Its cumulative index increased by 0.9 per cent during April to October, 2022-23 over the corresponding period of previous year.

Petroleum Refinery Products–Petroleum Refinery production (weight: 28.04 per cent) declined by 3.1 per cent in October, 2022 over October, 2021. Its cumulative index increased by 8.1 per cent during April to October, 2022-23 over the corresponding period of previous year.

Fertilizers –Fertilizers production (weight: 2.63 per cent) increased by 5.4 per cent in October, 2022 over October, 2021. Its cumulative index increased by 10.5 per cent during April to October, 2022-23 over the corresponding period of previous year.

Steel –Steel production (weight: 17.92 per cent) increased by 4.0 per cent in October, 2022 over October, 2021. Its cumulative index increased by 6.1 per cent during April to October, 2022-23 over the corresponding period of previous year.

Cement –Cement production (weight: 5.37 per cent) declined by 4.3 per cent in October, 2022 over October, 2021. Its cumulative index increased by 8.6 per cent during April to October, 2022-23 over the corresponding period of previous year.

Electricity –Electricity generation (weight: 19.85 per cent) increased by 0.4 per cent in October, 2022 over October, 2021. Its cumulative index increased by 9.3 per cent during April to October, 2022-23 over the corresponding period of previous year.

Note 1: Data for August, 2022, September, 2022 and October, 2022 are provisional. Index numbers of Core Industries are revised /finalized as per updated data from source agencies.

Note 2: Since April, 2014, Electricity generation data from Renewable sources are also included.

Note 3: The industry-wise weights indicated above are individual industry weight derived from IIP and blown up on pro rata basis to a combined weight of ICI equal to 100.

Note 4: Since March 2019, a new steel product called Hot Rolled Pickled and Oiled (HRPO) under the item ‘Cold Rolled (CR) coils’ within the production of finished steel has also been included.

Note 5: Release of the index for November, 2022 will be on Friday 30^th December, 2022.

Annex I

Performance of Eight Core Industries

Yearly Index & Growth Rate

Base Year: 2011-12=100

Index

*Provisional

Growth Rates (on Y-o-Y basis in per cent)

*Provisional,YoY is calculated over the corresponding financial year of previous year

Annex II

Performance of Eight Core Industries

Monthly Index & Growth Rate

Base Year: 2011-12=100

Index

*Provisional

Growth Rates (on Y-o-Y basis in per cent)

*Provisional,YoY is calculated over the corresponding month of previous year