India’s Core Sector Output Declines by 1.8% in August 2024; Steel and Fertilizers Record Positive Growth
The combined Index of Eight Core Industries (ICI) declined by 1.8per cent (provisional) in August, 2024 as compared to the Index in August, 2023. The production of Steel and Fertilizers recorded positive growth in August 2024. The details of annual indices, monthly indices and growth rates are provided at Annex I and Annex II.
The ICI measures the combined and individual performance of production of eight core industries viz. Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
The final growth rate of Index of Eight Core Industries for May 2024 stands at 6.9per cent. The cumulative growth rate of ICI during April to August, 2024-25 is 4.6 percent (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) declined by 8.1 per cent in August, 2024 over August, 2023. Its cumulative index increased by 6.5 per cent during April to August, 2024-25 over corresponding period of the previous year.
Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 3.4 per cent in August, 2024 over August, 2023. Its cumulative index declined by 1.7 per cent during April to August, 2024-25 over corresponding period of the previous year.
Natural Gas – Natural Gas production (weight: 6.88 per cent) declined by 3.6 per cent in August, 2024 over August, 2023. Its cumulative index increased by 2.6 per cent during April to August, 2024-25 over corresponding period of the previous year.
Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) declined by 1.0 per cent in August, 2024 over August, 2023. Its cumulative index increased by 1.7 per cent during April to August, 2024-25 over corresponding period of the previous year.
Fertilizers – Fertilizer production (weight: 2.63 per cent) increased by 3.2 per cent in August, 2024 over August, 2023. Its cumulative index increased by 1.7 per cent during April to August, 2024-25 over corresponding period of the previous year.
Steel – Steel production (weight: 17.92 per cent) increased by 4.5 per cent in August, 2024 over August, 2023. Its cumulative index increased by 7.3 per cent during April to August, 2024-25 over corresponding period of the previous year.
Cement – Cement production (weight: 5.37 per cent) declined by 3.0 per cent in August, 2024 over August, 2023. Its cumulative index increased by 0.7 per cent during April to August, 2024-25 over corresponding period of the previous year.
Electricity – Electricity generation (weight: 19.85 per cent) declined by 5.0 per cent in August, 2024 over August, 2023. Its cumulative index increased by 6.8 per cent during April to August, 2024-25 over corresponding period of the previous year.
Note 1: Data for June, 2024, July, 2024 and August, 2024are 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 weights 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 September, 2024 will be on Wednesday30thOctober, 2024.
Annex I
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 |
| 2023-24 | 182.7 | 77.1 | 76.8 | 135.9 | 129.8 | 200.4 | 185.7 | 198.3 | 157.8 |
| Apr-Aug 2023-24 | 158.8 | 77.5 | 75.0 | 136.0 | 130.6 | 193.1 | 185.4 | 204.7 | 155.3 |
| Apr-Aug 2024-25* | 169.1 | 76.2 | 76.9 | 138.2 | 132.8 | 207.2 | 186.7 | 218.7 | 162.4 |
*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 |
| 2023-24 | 11.8 | 0.6 | 6.1 | 3.6 | 3.7 | 12.5 | 8.9 | 7.1 | 7.6 |
| Apr-Aug 2023-24 | 11.5 | -0.4 | 3.9 | 3.7 | 7.5 | 16.1 | 12.9 | 5.4 | 8.0 |
| Apr-Aug 2024-25* | 6.5 | -1.7 | 2.6 | 1.7 | 1.7 | 7.3 | 0.7 | 6.8 | 4.6 |
*Provisional.
Y-o-Y 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
| 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 |
| Aug-23 | 150.3 | 78.4 | 80.3 | 135.4 | 133.3 | 198.4 | 182.0 | 220.5 | 158.6 |
| Sep-23 | 147.9 | 74.9 | 76.8 | 126.8 | 132.3 | 198.4 | 166.2 | 205.9 | 151.7 |
| Oct-23 | 172.6 | 78.4 | 80.3 | 128.8 | 136.4 | 201.4 | 181.5 | 203.8 | 156.4 |
| Nov-23 | 185.7 | 75.5 | 77.2 | 134.5 | 133.5 | 192.6 | 156.5 | 176.3 | 150.4 |
| Dec-23 | 204.3 | 77.4 | 79.5 | 145.0 | 137.5 | 206.7 | 191.9 | 181.6 | 161.2 |
| Jan-24 | 219.6 | 78.8 | 79.3 | 135.9 | 135.0 | 217.8 | 192.2 | 197.2 | 165.4 |
| Feb-24 | 212.1 | 73.5 | 74.5 | 132.5 | 113.3 | 202.9 | 194.3 | 187.2 | 157.7 |
| Mar-24 | 256.0 | 78.9 | 79.3 | 147.0 | 116.6 | 219.8 | 219.4 | 204.2 | 175.0 |
| Apr-24 | 173.3 | 76.3 | 74.8 | 137.9 | 117.8 | 210.0 | 192.3 | 212.0 | 161.7 |
| May-24 | 184.7 | 77.9 | 78.7 | 141.8 | 135.9 | 209.7 | 190.6 | 229.3 | 168.2 |
| Jun-24* | 186.4 | 74.4 | 75.8 | 134.1 | 134.0 | 204.8 | 198.7 | 222.8 | 163.9 |
| Jul-24* | 163.0 | 76.6 | 78.0 | 143.3 | 138.8 | 204.0 | 175.2 | 220.2 | 162.6 |
| Aug-24* | 138.2 | 75.7 | 77.4 | 134.0 | 137.5 | 207.4 | 176.5 | 209.4 | 155.8 |
*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 |
| Aug-23 | 17.9 | 2.2 | 10.0 | 9.5 | 1.8 | 16.4 | 19.7 | 15.3 | 13.4 |
| Sep-23 | 16.0 | -0.4 | 6.5 | 5.5 | 4.2 | 14.8 | 4.7 | 9.9 | 9.5 |
| Oct-23 | 18.4 | 1.3 | 10.0 | 4.3 | 5.3 | 13.6 | 16.9 | 20.4 | 12.7 |
| Nov-23 | 10.9 | -0.4 | 7.5 | 12.4 | 3.3 | 9.7 | -4.7 | 5.8 | 7.9 |
| Dec-23 | 10.8 | -1.0 | 6.7 | 4.1 | 5.9 | 8.3 | 3.8 | 1.2 | 5.1 |
| Jan-24 | 10.6 | 0.6 | 5.5 | -4.3 | -0.6 | 9.2 | 4.1 | 5.7 | 4.2 |
| Feb-24 | 11.6 | 7.9 | 11.2 | 2.6 | -9.5 | 9.4 | 7.8 | 7.6 | 7.1 |
| Mar-24 | 8.7 | 2.1 | 6.3 | 1.6 | -1.3 | 7.5 | 10.6 | 8.6 | 6.3 |
| Apr-24 | 7.5 | 1.7 | 8.6 | 3.9 | -0.8 | 9.8 | 0.2 | 10.2 | 6.9 |
| May-24 | 10.2 | -1.1 | 7.5 | 0.5 | -1.7 | 8.9 | -0.6 | 13.7 | 6.9 |
| Jun-24* | 14.8 | -2.6 | 3.3 | -1.5 | 2.4 | 6.7 | 1.9 | 8.6 | 5.1 |
| Jul-24* | 6.8 | -2.9 | -1.3 | 6.6 | 5.3 | 6.4 | 5.5 | 7.9 | 6.1 |
| Aug-24* | -8.1 | -3.4 | -3.6 | -1.0 | 3.2 | 4.5 | -3.0 | -5.0 | -1.8 |