The combined Index of Eight Core Industries (ICI) increases by 7.4 per cent (provisional) in December 2022 as compared to the Index of December 2021

New Delhi: The combined Index of Eight Core Industries (ICI) increased by 7.4 per cent (provisional) in December 2022 as compared to the Index of December 2021. The production of Coal, Electricity, Steel, Cement, Fertilizers, Refinery Products and Natural Gas increased in December 2022 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.

2. Final growth rate of Index of Eight Core Industries for September 2022 is revised to 8.3 per cent from its provisional level 7.9 per cent. The cumulative growth rate of ICI during April-December 2022 was 8.0 per cent (provisional) 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 11.5 per cent in December, 2022 over December, 2021. Its cumulative index increased by 16.4 per cent during April to December 2022 over corresponding period of the previous year.

Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 1.2 per cent in December, 2022 over December, 2021. Its cumulative index declined by 1.3 per cent during April to December, 2022 over the corresponding period of previous year.

Natural Gas – Natural Gas production (weight: 6.88 per cent) increased by 2.6 per cent in December, 2022 over December, 2021. Its cumulative index increased by 0.9 per cent during April to December, 2022 over the corresponding period of previous year.

Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) increased by 3.7 per cent in December, 2022 over December, 2021. Its cumulative index increased by 5.5 per cent during April to December, 2022 over the corresponding period of previous year.

Fertilizers – Fertilizers production (weight: 2.63 per cent) increased by 7.3 per cent in December, 2022 over December, 2021. Its cumulative index increased by 9.6 per cent during April to December, 2022 over the corresponding period of previous year.

Steel – Steel production (weight: 17.92 per cent) increased by 9.2 per cent in December, 2022 over December, 2021. Its cumulative index increased by 7.7 per cent during April to December, 2022 over the corresponding period of previous year.

Cement – Cement production (weight: 5.37 per cent) increased by 9.1 per cent in December, 2022 over December, 2021. Its cumulative index increased by 10.6 per cent during April to December, 2022 over the corresponding period of previous year.

Electricity – Electricity generation (weight: 19.85 per cent) increased by 10.0 per cent in December, 2022 over December, 2021. Its cumulative index increased by 9.8 per cent during April to December, 2022 over the corresponding period of previous year.

Note 1: Data for October, 2022, November, 2022 and December, 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 January, 2023 will be on Tuesday 28th February, 2023.