In September 2023, the Combined Index of Eight Core Industries (ICI) increased by 8.1 percent when compared to the same month in 2022. This growth was observed across various sectors, including Coal, Steel, Electricity, Natural Gas, Refinery Products, Cement, and Fertilizers.
The ICI serves as a comprehensive measure of both the combined and individual performances of eight core industries, namely Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products, and Steel. These eight core industries collectively contribute significantly, accounting for 40.27 percent of the total weight of items included in the Index of Industrial Production (IIP).
Here is a summarized breakdown of the performance of the eight core industries:
- Cement (Weight: 5.37 percent): Cement production witnessed a 4.7 percent increase in September 2023 over September 2022. The cumulative index for cement production grew by 11.5 percent during April to September 2023-24 compared to the corresponding period of the previous year.
- Coal (Weight: 10.33 percent): Coal production experienced a substantial surge of 16.1 percent in September 2023 compared to September 2022. The cumulative index for coal production increased by 12.2 percent during April to September 2023-24 over the corresponding period of the previous year.
- Crude Oil (Weight: 8.98 percent): Crude Oil production, on the other hand, witnessed a marginal decline of 0.4 percent in September 2023 compared to September 2022. The cumulative index for crude oil production also showed a decline of 0.4 percent during April to September 2023-24 compared to the previous year.
- Electricity (Weight: 19.85 percent): Electricity generation registered a growth of 9.3 percent in September 2023 compared to September 2022. The cumulative index for electricity generation increased by 6.0 percent during April to September 2023-24 over the corresponding period of the previous year.
- Fertilizers (Weight: 2.63 percent): Fertilizer production saw a growth of 4.2 percent in September 2023 compared to September 2022. The cumulative index for fertilizer production increased by 7.0 percent during April to September 2023-24 over the corresponding period of the previous year.
- Natural Gas (Weight: 6.88 percent): Natural Gas production exhibited growth of 6.5 percent in September 2023 compared to September 2022. The cumulative index for natural gas production increased by 4.3 percent during April to September 2023-24 over the corresponding period of the previous year.
- Petroleum Refinery Products (Weight: 28.04 percent): Petroleum refinery production increased by 5.5 percent in September 2023 compared to September 2022. The cumulative index for petroleum refinery products increased by 4.0 percent during April to September 2023-24 over the corresponding period of the previous year.
- Steel (Weight: 17.92 percent): Steel production showed a healthy growth of 9.6 percent in September 2023 compared to September 2022. The cumulative index for steel production increased by 14.2 percent during April to September 2023-24 over the corresponding period of the previous year.
