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The combined Index of Eight Core Industries (ICI) increased by 8.2 per cent (provisional) in June 2023 as compared to the Index of June 2022. The production of Steel, Coal, Cement, Refinery Products, Natural Gas, Fertilizers and Electricity increased in June 2023 over the corresponding month of last year. ICI measures combined and individual performance of production of 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 annual and monthly indices and growth rates are provided at Annex I & II respectively.
Final growth rate of Index of Eight Core Industries for March 2023 is revised to 4.2 per cent from its provisional level 3.6 per cent. The cumulative growth rate of ICI during the quarter April to June, 2023-24 reported 5.8 per cent (provisional) as compared to the corresponding period of last year.
The summary of the Index of Eight Core Industries is given below:
Coal - Coal production (weight: 10.33 per cent) increased by 9.8 per cent in June, 2023 over June, 2022. Its cumulative index increased by 8.7 per cent during the quarter April to June, 2023-24 over corresponding period of the previous year.
Crude Oil - Crude Oil production (weight: 8.98 per cent) declined by 0.6 per cent in June, 2023 over June, 2022. Its cumulative index declined by 2.0 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
Natural Gas - Natural Gas production (weight: 6.88 per cent) increased by 3.6 per cent in June, 2023 over June, 2022. Its cumulative index increased by 0.1 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
Petroleum Refinery Products - Petroleum Refinery production (weight: 28.04 per cent) increased by 4.6 per cent in June, 2023 over June, 2022. Its cumulative index increased by 1.9 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
Fertilizers - Fertilizer production (weight: 2.63 per cent) increased by 3.4 per cent in June, 2023 over June, 2022. Its cumulative index increased by 11.3 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
Steel - Steel production (weight: 17.92 per cent) increased by 21.9 per cent in June, 2023 over June, 2022. Its cumulative index increased by 15.9 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
Cement - Cement production (weight: 5.37 per cent) increased by 9.4 per cent in June, 2023 over June, 2022. Its cumulative index increased by 12.2 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
Electricity - Electricity generation (weight: 19.85 per cent) increased by 3.3 per cent in June, 2023 over June, 2022. Its cumulative index increased by 1.0 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
Note 1: Data for April 2023, May 2023 and June 2023 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 July, 2023 will be on Thursday 31stAugust, 2023.
Performance of Eight Core Industries
Yearly Index & Growth Rate
Base Year: 2011-12=100
Index
| Sector | Coal | Crude Oil | Natural Gas | Refinery Products | Fertilizers | Steel | Cement | Electricity | Overall Index | |
| Weight | 10.33 | 8.98 | 6.88 | 28.04 | 2.63 | 17.92 | 5.37 | 19.85 | 100.00 | |
| 2012-13 | 103.2 | 99.4 | 85.6 | 107.2 | 96.7 | 107.9 | 107.5 | 104.0 | 103.8 | |
| 2013-14 | 104.2 | 99.2 | 74.5 | 108.6 | 98.1 | 115.8 | 111.5 | 110.3 | 106.5 | |
| 2014-15 | 112.6 | 98.4 | 70.5 | 108.8 | 99.4 | 121.7 | 118.1 | 126.6 | 111.7 | |
| 2015-16 | 118.0 | 97.0 | 67.2 | 114.1 | 106.4 | 120.2 | 123.5 | 133.8 | 115.1 | |
| 2016-17 | 121.8 | 94.5 | 66.5 | 119.7 | 106.6 | 133.1 | 122.0 | 141.6 | 120.5 | |
| 2017-18 | 124.9 | 93.7 | 68.4 | 125.2 | 106.6 | 140.5 | 129.7 | 149.2 | 125.7 | |
| 2018-19 | 134.1 | 89.8 | 69.0 | 129.1 | 107.0 | 147.7 | 147.0 | 156.9 | 131.2 | |
| 2019-20 | 133.6 | 84.5 | 65.1 | 129.4 | 109.8 | 152.6 | 145.7 | 158.4 | 131.6 | |
| 2020-21 | 131.1 | 80.1 | 59.8 | 114.9 | 111.6 | 139.4 | 130.0 | 157.6 | 123.2 | |
| 2021-22 | 142.3 | 77.9 | 71.3 | 125.1 | 112.4 | 163.0 | 156.9 | 170.1 | 136.1 | |
| 2022-23 | 163.5 | 76.6 | 72.4 | 131.2 | 125.1 | 178.1 | 170.6 | 185.2 | 146.7 | |
| Apr-Jun 22-23* | 150.7 | 78.3 | 71.8 | 134.1 | 116.2 | 164.7 | 171.2 | 197.1 | 146.0 | |
| Apr-Jun 23-24* | 163.7 | 76.8 | 71.9 | 136.7 | 129.2 | 190.9 | 192.1 | 199.1 | 154.5 | |
*Provisional
Growth Rates (on Y-o-Y basis in per cent)
| Sector | Coal | Crude Oil | Natural Gas | Refinery Products | Fertilizers | Steel | Cement | Electricity | Overall Growth |
| Weight | 10.33 | 8.98 | 6.88 | 28.04 | 2.63 | 17.92 | 5.37 | 19.85 | 100.00 |
| 2012-13 | 3.2 | -0.6 | -14.4 | 7.2 | -3.3 | 7.9 | 7.5 | 4.0 | 3.8 |
| 2013-14 | 1.0 | -0.2 | -12.9 | 1.4 | 1.5 | 7.3 | 3.7 | 6.1 | 2.6 |
| 2014-15 | 8.0 | -0.9 | -5.3 | 0.2 | 1.3 | 5.1 | 5.9 | 14.8 | 4.9 |
| 2015-16 | 4.8 | -1.4 | -4.7 | 4.9 | 7.0 | -1.3 | 4.6 | 5.7 | 3.0 |
| 2016-17 | 3.2 | -2.5 | -1.0 | 4.9 | 0.2 | 10.7 | -1.2 | 5.8 | 4.8 |
| 2017-18 | 2.6 | -0.9 | 2.9 | 4.6 | 0.03 | 5.6 | 6.3 | 5.3 | 4.3 |
| 2018-19 | 7.4 | -4.1 | 0.8 | 3.1 | 0.3 | 5.1 | 13.3 | 5.2 | 4.4 |
| 2019-20 | -0.4 | -5.9 | -5.6 | 0.2 | 2.7 | 3.4 | -0.9 | 0.9 | 0.4 |
| 2020-21 | -1.9 | -5.2 | -8.2 | -11.2 | 1.7 | -8.7 | -10.8 | -0.5 | -6.4 |
| 2021-22 | 8.5 | -2.6 | 19.2 | 8.9 | 0.7 | 16.9 | 20.8 | 8.0 | 10.4 |
| 2022-23 | 14.8 | -1.7 | 1.6 | 4.8 | 11.3 | 9.3 | 8.7 | 8.9 | 7.8 |
| Apr-Jun 22-23* | 31.9 | 0.6 | 4.8 | 13.5 | 13.3 | 6.9 | 17.2 | 17.1 | 13.9 |
| Apr-Jun 23-24* | 8.7 | -2.0 | 0.1 | 1.9 | 11.3 | 15.9 | 12.2 | 1.0 | 5.8 |
*Provisional. YoY is calculated over the corresponding financial year of previous year
Performance of Eight Core Industries
Monthly Index & Growth Rate
Base Year: 2011-12=100
Index
| Sector | Coal | Crude Oil | Natural Gas | Refinery Products | Fertilizers | Steel | Cement | Electricity | Overall Index |
| Weight | 10.33 | 8.98 | 6.88 | 28.04 | 2.63 | 17.92 | 5.37 | 19.85 | 100.00 |
| Jun-22 | 148.0 | 76.9 | 70.9 | 130.3 | 126.4 | 158.2 | 177.4 | 196.9 | 143.9 |
| Jul-22 | 132.7 | 77.3 | 72.6 | 129.8 | 127.6 | 166.8 | 155.4 | 188.9 | 141.1 |
| Aug-22 | 127.5 | 76.7 | 73.0 | 123.6 | 130.9 | 170.5 | 152.0 | 191.3 | 139.9 |
| Sep-22 | 127.5 | 75.2 | 72.1 | 120.2 | 127.0 | 172.8 | 158.7 | 187.4 | 138.6 |
| Oct-22 | 145.8 | 77.4 | 73.0 | 123.5 | 129.5 | 177.3 | 155.2 | 169.3 | 138.8 |
| Nov-22 | 167.5 | 75.8 | 71.8 | 119.7 | 129.2 | 175.5 | 164.3 | 166.7 | 139.4 |
| Dec-22 | 184.4 | 78.2 | 74.5 | 139.3 | 129.9 | 190.9 | 184.8 | 179.4 | 153.4 |
| Jan-23 | 198.6 | 78.3 | 75.2 | 142.0 | 135.8 | 199.5 | 184.7 | 186.6 | 158.8 |
| Feb-23 | 190.1 | 68.1 | 67.0 | 129.1 | 125.2 | 185.4 | 180.2 | 174.0 | 147.3 |
| Mar-23 | 235.5 | 77.3 | 74.6 | 144.7 | 118.1 | 204.4 | 198.4 | 188.0 | 164.7 |
| Apr-23* | 161.2 | 75.1 | 69.0 | 132.7 | 118.7 | 189.2 | 191.4 | 192.3 | 150.8 |
| May-23* | 167.6 | 78.8 | 73.3 | 141.1 | 138.2 | 190.7 | 190.8 | 201.6 | 157.1 |
| Jun-23* | 162.4 | 76.4 | 73.4 | 136.2 | 130.8 | 192.9 | 194.0 | 203.4 | 155.7 |
*Provisional
Growth Rates (on Y-o-Y basis in per cent)
| Sector | Coal | Crude Oil | Natural Gas | Refinery Products | Fertilizers | Steel | Cement | Electricity | Overall Growth |
| Weight | 10.33 | 8.98 | 6.88 | 28.04 | 2.63 | 17.92 | 5.37 | 19.85 | 100.00 |
| Jun-22 | 32.1 | -1.7 | 1.2 | 15.1 | 8.2 | 3.3 | 19.7 | 16.5 | 13.1 |
| Jul-22 | 11.4 | -3.8 | -0.3 | 6.2 | 6.2 | 7.5 | 0.7 | 2.3 | 4.8 |
| Aug-22 | 7.7 | -3.3 | -0.9 | 7.0 | 11.9 | 5.8 | 2.1 | 1.4 | 4.2 |
| Sep-22 | 12.1 | -2.3 | -1.7 | 6.6 | 11.8 | 7.7 | 12.4 | 11.6 | 8.3 |
| Oct-22 | 3.8 | -2.2 | -4.2 | -3.1 | 5.4 | 5.8 | -4.2 | 1.2 | 0.7 |
| Nov-22 | 12.3 | -1.1 | -0.7 | -9.3 | 6.4 | 11.5 | 29.1 | 12.7 | 5.7 |
| Dec-22 | 12.3 | -1.2 | 2.6 | 3.7 | 7.3 | 12.3 | 9.5 | 10.4 | 8.3 |
| Jan-23 | 13.6 | -1.1 | 5.2 | 4.5 | 17.9 | 14.3 | 4.7 | 12.7 | 9.7 |
| Feb-23 | 9.0 | -4.9 | 3.1 | 3.3 | 22.2 | 12.4 | 7.4 | 8.2 | 7.4 |
| Mar-23 | 11.7 | -2.8 | 2.7 | 1.5 | 9.7 | 12.1 | -0.2 | -1.6 | 4.2 |
| Apr-23* | 9.1 | -3.5 | -2.8 | -1.5 | 23.5 | 15.3 | 12.0 | -1.1 | 4.3 |
| May-23* | 7.2 | -1.9 | -0.3 | 2.8 | 9.7 | 10.9 | 15.3 | 0.8 | 5.0 |
| Jun-23* | 9.8 | -0.6 | 3.6 | 4.6 | 3.4 | 21.9 | 9.4 | 3.3 | 8.2 |
*Provisional. YoY is calculated over the corresponding month of previous year