The combined Index of Eight Core Industries increased by 3.8 percent (provisional) in December 2023 as compared to the Index of December 2022. While the production of Coal, Natural Gas, Steel, Fertilizers, Refinery Products, Cement and Electricity recorded positive growth in December 2023, Crude Oil production decreased.
The Index measures 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 September 2023 is revised to 9.4 percent. The cumulative growth rate of the Index during April to December 2023-24 is 8.1 percent as compared to the corresponding period of last year.
Growth in Eight Core Industries
Cement production increased by 1.3 percent in December 2023 over December, 2022. Its cumulative index increased by 9.2 percent during April to December 2023-24 over corresponding period of the previous year.
Coal production increased by 10.6 percent in December 2023 over December 2022. Its cumulative index increased by 12.5 percent during April to December 2023-24 over corresponding period of the previous year.
Crude Oil production decreased by 1.0 percent in December 2023 over December 2022. Its cumulative index declined by 0.3 percent during April to December 2023-24 over corresponding period of the previous year.
Electricity generation increased by 0.6 percent in December 2023 over December 2022. Its cumulative index increased by 6.9 percent during April to December 2023-24 over corresponding period of the previous year.
Fertilizer production increased by 5.8 percent in December 2023 over December 2022. Its cumulative index increased by 6.2 percent during April to December 2023-24 over corresponding period of the previous year.
Natural Gas production increased by 6.6 percent in December 2023 over December 2022. Its cumulative index increased by 5.6 percent during April to December 2023-24 over corresponding period of the previous year.
Petroleum Refinery production increased by 2.6 percent in December 2023 over December 2022. Its cumulative index increased by 4.7 percent during April to December 2023-24 over corresponding period of the previous year.
Steel production increased by 5.9 percent in December 2023 over December 2022. Its cumulative index increased by 13.3 per cent during April to December 2023-24 over corresponding period of the previous year.
Crude Oil production decreased by 1.0 percent in December 2023 over December 2022. Its cumulative index declined by 0.3 percent during April to December 2023-24 over corresponding period of the previous year.
