The combined Index of Eight Core Industries (ICI) surges by 8.2 per cent in June 2023, compared to the same month last year.
The ICI measures the overall performance of eight core industries, namely Coal, Crude Oil, Natural Gas, Refinery Products, Fertilisers, Steel, Cement, and Electricity, which collectively contribute to 40.27 percent of the Index of Industrial Production (IIP).
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.
Key highlights of the Index of Eight Core Industries include:
- Coal - Production increased by 9.8 per cent in June, leading to increase of 8.7 per cent during the quarter April to June, 2023-24 over corresponding period of the previous year.
- Crude Oil - Production declines by 0.6 per cent in June, leading to cumulative index decline of 2.0 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
- Natural Gas - Production increases by 3.6 per cent, leading to a cumulative index increase by 0.1 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
- Petroleum Refinery Products - Production increases by 4.6 per cent, leading to cumulative index increase of 1.9 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
- Fertilisers - Production increases by 3.4 per cent, leading to cumulative index increase of 11.3 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
- Steel - Production increases by 21.9 per cent, leading to cumulative index increase of 15.9 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
- Cement - Production increased by 9.4 per cent, leading to increase of 12.2 per cent during the quarter April to June, 2023-24 over the corresponding period of previous year.
- Electricity - Generation increases by 3.3 per cent, leading to 1.0 per cent increase during the quarter April to June, 2023-24 over the corresponding period of previous year.