Ministry of Commerce & Industry
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Index of eight core industries grows by 18.1 percent in May, 2022; Electricity, Cement, Coal and Fertilizers lead the way with high growth

INDEX OF EIGHT CORE INDUSTRIES (BASE: 2011-12=100) FOR MAY, 2022

Posted On: 30 JUN 2022 5:42PM by PIB Delhi

The combined Index of Eight Core Industries grew at 18.1 percent (provisional)in May 2022 as compared to the Index of May 2021. The Index stood at 148.1 in May 2022. The production of Cement, Coal, Fertilizers and Electricity industries recorded high growth in May 2022 over the corresponding period of last year. Coal industries grew by 25.1% and Fertilizer industries were up by 22.8%. While the cement industries zoomed by 26.3%, the electricity sector increased by 22%.

The Department for Promotion of Industry and Internal Trade released the Index of Eight Core Industries (ICI) for the Month of May, 2022 today. ICI measures combined and individual performance of production in selected 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). Details of yearly and monthly indices and growth rates are provided at Annex I & II respectively.

The final growth rate of Index of Eight Core Industries for February 2022 is revised to 5.9% from its provisional level 5.8%. The growth rate of ICI during April-May 2022-23 was 13.6% (P) as compared to the corresponding period of last FY.

 

The summary of the Index of Eight Core Industries is given below:

Coal –Coal production (weight: 10.33 per cent) increased by 25.1 per cent in May, 2022 over May, 2021. Its cumulative index increased by 26.9 per cent during April to May, 2022-23 over corresponding period of the previous year.

 

Crude Oil–Crude Oil production (weight: 8.98 per cent) increased by 4.6 per cent in May, 2022 over May, 2021. Its cumulative index increased by 1.8 per cent during April to May, 2022-23 over the corresponding period of previous year.

 

Natural Gas - Natural Gas production (weight: 6.88 per cent) increased by 7.0 per cent in May, 2022 over May, 2021. Its cumulative index increased by 6.7 per cent during April to May, 2022-23 over the corresponding period of previous year.

 

Petroleum Refinery Products–Petroleum Refinery production (weight: 28.04 per cent) increased by 16.7 per cent in May, 2022 over May, 2021. Its cumulative index increased by 12.8 per cent during April to May, 2022-23 over the corresponding period of previous year.

 

Fertilizers –Fertilizers production (weight: 2.63 per cent) increased by 22.8 per cent in May, 2022 over May, 2021. Its cumulative index increased by 16.3 per cent during April to May, 2022-23 over the corresponding period of previous year.

 

Steel –Steel production (weight: 17.92 per cent) increased by 15.0 per cent in May, 2022 over May, 2021. Its cumulative index increased by 8.4 per cent during April to May, 2022-23 over the corresponding period of previous year.

 

Cement –Cement production (weight: 5.37 per cent) increased by 26.3 per cent in May, 2022 over May, 2021. Its cumulative index increased by 15.9 per cent during April to May, 2022-23 over the corresponding period of previous year.

 

Electricity –Electricity generation (weight: 19.85 per cent) increased by 22.0 per cent in May, 2022 over May, 2021. Its cumulative index increased by 16.7 per cent during April to May, 2022-23 over the corresponding period of previous year.

 

Note 1: Data for March, 2022, April, 2022 and May, 2022 are 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 weight 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 June, 2022 will be on Friday 29th July, 2022.

 

 

Annex I

Performance of Eight Core Industries

Yearly Index & Growth Rate

Base Year: 2011-12=100

   Index

 

 

Sector

Weight

2013-14

2014-15

2015-16

2016-17

2017-18

2018-19

2019-20

2020-21

2021-22

Apr-May  2021*

Apr-May  2022*

Coal

10.3335

104.2

112.6

118.0

121.8

124.9

134.1

133.6

131.1

142.3

115.3

146.3

Crude Oil

8.9833

99.2

98.4

97.0

94.5

93.7

89.8

84.5

80.1

77.9

77.7

79.1

Natural Gas

6.8768

74.5

70.5

67.2

66.5

68.4

69.0

65.1

59.8

71.3

67.7

72.2

Refinery Products

28.0376

108.6

108.8

114.1

119.7

125.2

129.1

129.4

114.9

125.1

120.5

136.0

Fertilizers

2.6276

98.1

99.4

106.4

106.6

106.6

107.0

109.8

111.6

112.4

95.4

110.9

Steel

17.9166

115.8

121.7

120.2

133.1

140.5

147.7

152.6

139.4

163.1

154.7

167.7

Cement

5.3720

111.5

118.1

123.5

122.0

129.7

147.0

145.7

130.0

156.9

145.1

168.2

Electricity

19.8530

110.3

126.6

133.8

141.6

149.2

156.9

158.4

157.6

170.1

167.9

196.0

Overall Index

100.0000

106.5

111.7

115.1

120.5

125.7

131.2

131.6

123.2

136.1

128.7

146.2

*Provisional

Growth Rates (on Y-o-Y basis in per cent)

 

Sector

Weight

2013-14

2014-15

2015-16

2016-17

2017-18

2018-19

2019-20

2020-21

2021-22

Apr-May  2021*

Apr-May  2022*

Coal

10.3335

1.0

8.0

4.8

3.2

2.6

7.4

-0.4

-1.9

8.5

8.2

26.9

Crude Oil

8.9833

-0.2

-0.9

-1.4

-2.5

-0.9

-4.1

-5.9

-5.2

-2.6

-4.2

1.8

Natural Gas

6.8768

-12.9

-5.3

-4.7

-1.0

2.9

0.8

-5.6

-8.2

19.2

22.5

6.7

Refinery Products

28.0376

1.4

0.2

4.9

4.9

4.6

3.1

0.2

-11.2

8.9

22.8

12.8

Fertilizers

2.6276

1.5

1.3

7.0

0.2

0.03

0.3

2.7

1.7

0.7

-3.8

16.3

Steel

17.9166

7.3

5.1

-1.3

10.7

5.6

5.1

3.4

-8.7

17.0

151.0

8.4

Cement

5.3720

3.7

5.9

4.6

-1.2

6.3

13.3

-0.9

-10.8

20.8

107.4

15.9

Electricity

19.8530

6.1

14.8

5.7

5.8

5.3

5.2

0.9

-0.5

8.0

21.6

16.7

Overall Growth

100.0000

2.6

4.9

3.0

4.8

4.3

4.4

0.4

-6.4

10.4

36.3

13.6

*Provisional,YoY 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

10.3335

8.9833

6.8768

28.0376

2.6276

17.9166

5.3720

19.8530

100.0000

May-21

117.1

76.8

68.7

117.7

102.5

149.4

131.1

161.9

125.4

Jun-21

112.1

78.2

70.0

113.2

116.9

153.1

148.2

169.1

127.2

Jul-21

119.2

80.3

72.8

122.2

120.1

155.2

154.3

184.7

134.7

Aug-21

118.4

79.4

73.7

115.5

117.0

161.1

148.8

188.7

134.2

Sep-21

113.8

77.0

73.3

112.7

113.6

160.5

141.1

167.9

128.0

Oct-21

140.4

79.2

76.3

127.5

122.9

167.6

161.9

167.3

137.8

Nov-21

149.2

76.6

72.2

131.9

121.4

157.4

127.3

147.9

131.8

Dec-21

164.3

79.1

72.7

134.4

121.1

169.9

168.8

162.5

141.7

Jan-22

174.8

79.1

71.4

135.8

115.2

174.5

176.4

165.6

144.8

Feb-22

174.4

71.6

64.9

124.9

102.4

165.0

169.0

160.8

137.2

Mar-22*

210.0

79.6

72.6

142.5

107.7

183.9

198.8

191.0

158.2

Apr-22*

146.2

77.8

70.9

134.7

96.0

163.6

170.9

194.5

144.4

May-22*

146.5

80.3

73.5

137.3

125.9

171.8

165.5

197.5

148.1

          *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

10.3335

8.9833

6.8768

28.0376

2.6276

17.9166

5.3720

19.8530

100.0000

May-21

7.0

-6.3

20.1

15.3

-9.6

55.1

11.7

7.5

16.4

Jun-21

7.4

-1.8

20.6

2.4

2.0

25.2

7.5

8.2

9.4

Jul-21

18.8

-3.2

19.0

6.7

0.6

9.4

21.7

11.0

9.9

Aug-21

20.6

-2.3

20.7

9.1

-3.1

6.9

36.3

16.0

12.2

Sep-21

7.8

-1.7

27.5

6.0

0.04

7.1

11.3

0.9

5.4

Oct-21

14.7

-2.2

25.8

14.4

0.04

5.9

14.6

3.2

8.7

Nov-21

8.2

-2.2

23.7

4.3

2.5

0.9

-3.6

2.1

3.2

Dec-21

5.2

-1.8

19.5

5.9

3.5

-0.6

14.2

2.9

4.1

Jan-22

8.2

-2.4

11.7

3.7

-2.0

3.8

14.1

0.9

4.0

Feb-22

6.6

-2.2

12.5

8.8

-1.4

5.6

5.0

4.5

5.9

Mar-22*

-0.1

-3.4

7.6

6.1

15.3

5.0

9.0

6.1

4.9

Apr-22*

28.8

-0.9

6.4

9.2

8.7

2.2

7.4

11.8

9.3

May-22*

25.1

4.6

7.0

16.7

22.8

15.0

26.3

22.0

18.1

       *Provisional,YoY is calculated over the corresponding month of previous year

                                             

                                                                                         ***

AM



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