Combined Index of Eight Core Industries (ICI)

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    The combined Index of Eight Core Industries (ICI) increased by 3.6 percent (provisional) in March 2023 as compared to the Index of March 2022. 

    • The production of Coal, Fertilizers, Steel, Natural Gas, and Refinery Products increased in March 2023 over the corresponding month of last year(2022).

    Index of Eight Core Industries (ICI)

    •  ICI measures combined and individual performance of the 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). 
    • The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT) releases the Index of Eight Core Industries (ICI).
    • Base year: 2011-2012

    Summary of the Index of Eight Core Industries 

    • Coal – Coal production (weight: 10.33 percent) increased by 12.2 percent in March 2023 over March 2022. 
    • Crude Oil – Crude Oil production (weight: 8.98 percent) declined by 2.8 percent in March 2023 over March 2022. 
    • Natural Gas – Natural Gas production (weight: 6.88 percent) increased by 2.8 percent in March 2023 over March 2022. 
    • Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 percent) increased by 1.5 percent in March 2023 over March 2022. 
    • Fertilizers – Fertilizer production (weight: 2.63 percent) increased by 9.7 percent in March 2023 over March 2022. 
    • Steel – Steel production (weight: 17.92 percent) increased by 8.8 percent in March 2023 over March 2022. 
    • Cement – Cement production (weight: 5.37 percent) declined by 0.8 percent in March 2023 over March 2022. 
    • Electricity – Electricity generation (weight: 19.85 percent) declined by 1.8 percent in March 2023 over March 2022.

    Source: Newsonair