The combined Index of Eight Core Industries increased by 3.3 per cent (provisional) as compared to the Index of August 2021. The production of Fertilizers, Coal, Refinery Products, Steel, Cement and Electricity industries increased in August 2022 over the corresponding period of last year. 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.

Final growth rate of Index of Eight Core Industries for May 2022 is revised to 19.3% from its provisional level 18.1%. The growth rate of ICI during April-August 2022-23 was 9.8% (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 7.6 per cent in August, 2022 over August, 2021. Its cumulative index increased by 22.7 per cent during April to August, 2022-23 over corresponding period of the previous year.

 

Crude Oil–Crude Oil production (weight: 8.98 per cent) declined by 3.3 per cent in August, 2022 over August, 2021. Its cumulative index declined by 1.1 per cent during April to August, 2022-23 over the corresponding period of previous year.

 

Natural Gas - Natural Gas production (weight: 6.88 per cent) declined by 0.9 per cent in August, 2022 over August, 2021. Its cumulative index increased by 2.6 per cent during April to August, 2022-23 over the corresponding period of previous year.

 

Petroleum Refinery Products–Petroleum Refinery production (weight: 28.04 per cent) increased by 7.0 per cent in August, 2022 over August, 2021. Its cumulative index increased by 10.8 per cent during April to August, 2022-23 over the corresponding period of previous year.

 

Fertilizers –Fertilizers production (weight: 2.63 per cent) increased by 11.9 per cent in August, 2022 over August, 2021. Its cumulative index increased by 11.4 per cent during April to August, 2022-23 over the corresponding period of previous year.

 

Steel –Steel production (weight: 17.92 per cent) increased by 2.2 per cent in August, 2022 over August, 2021. Its cumulative index increased by 5.8 per cent during April to August, 2022-23 over the corresponding period of previous year.

 

Cement –Cement production (weight: 5.37 per cent) increased by 1.8 per cent in August, 2022 over August, 2021. Its cumulative index increased by 10.6 per cent during April to August, 2022-23 over the corresponding period of previous year.

 

Electricity –Electricity generation (weight: 19.85 per cent) increased by 0.9 per cent in August, 2022 over August, 2021. Its cumulative index increased by 10.5 per cent during April to August, 2022-23 over the corresponding period of previous year.

 

Note 1: Data for June, 2022, July, 2022 and August, 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 September, 2022 will be on Monday 31^st October, 2022.

 

Annex I

Performance of Eight Core Industries

Yearly Index & Growth Rate

Base Year: 2011-12=100

Index

Sector	Coal	Crude Oil	Natural Gas	Refinery Products	Fertilizers	Steel	Cement	Electricity	Overall Index
Weight	10.33	8.98	6.88	28.04	2.63	17.92	5.37	19.85	100.00
2012-13	103.2	99.4	85.6	107.2	96.7	107.9	107.5	104.0	103.8
2013-14	104.2	99.2	74.5	108.6	98.1	115.8	111.5	110.3	106.5
2014-15	112.6	98.4	70.5	108.8	99.4	121.7	118.1	126.6	111.7
2015-16	118.0	97.0	67.2	114.1	106.4	120.2	123.5	133.8	115.1
2016-17	121.8	94.5	66.5	119.7	106.6	133.1	122.0	141.6	120.5
2017-18	124.9	93.7	68.4	125.2	106.6	140.5	129.7	149.2	125.7
2018-19	134.1	89.8	69.0	129.1	107.0	147.7	147.0	156.9	131.2
2019-20	133.6	84.5	65.1	129.4	109.8	152.6	145.7	158.4	131.6
2020-21	131.1	80.1	59.8	114.9	111.6	139.4	130.0	157.6	123.2
2021-22	142.3	77.9	71.3	125.1	112.4	163.0	156.9	170.1	136.1
Apr-Aug  2021*	116.1	78.6	70.4	118.4	109.0	155.8	148.3	175.7	130.7
Apr-Aug  2022*	142.5	77.8	72.2	131.1	121.4	164.8	164.0	194.1	143.5

*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	10.33	8.98	6.88	28.04	2.63	17.92	5.37	19.85	100.00
2012-13	3.2	-0.6	-14.4	7.2	-3.3	7.9	7.5	4.0	3.8
2013-14	1.0	-0.2	-12.9	1.4	1.5	7.3	3.7	6.1	2.6
2014-15	8.0	-0.9	-5.3	0.2	1.3	5.1	5.9	14.8	4.9
2015-16	4.8	-1.4	-4.7	4.9	7.0	-1.3	4.6	5.7	3.0
2016-17	3.2	-2.5	-1.0	4.9	0.2	10.7	-1.2	5.8	4.8
2017-18	2.6	-0.9	2.9	4.6	0.03	5.6	6.3	5.3	4.3
2018-19	7.4	-4.1	0.8	3.1	0.3	5.1	13.3	5.2	4.4
2019-20	-0.4	-5.9	-5.6	0.2	2.7	3.4	-0.9	0.9	0.4
2020-21	-1.9	-5.2	-8.2	-11.2	1.7	-8.7	-10.8	-0.5	-6.4
2021-22	8.5	-2.6	19.2	8.9	0.7	16.9	20.8	8.0	10.4
Apr-Aug  2021*	12.5	-3.1	21.0	12.3	-1.5	44.7	44.3	15.4	19.4
Apr-Aug  2022*	22.7	-1.1	2.6	10.8	11.4	5.8	10.6	10.5	9.8

*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	10.33	8.98	6.88	28.04	2.63	17.92	5.37	19.85	100.00
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	167.7	160.8	137.1
Mar-22	210.8	79.6	72.6	142.5	107.7	182.4	198.8	191.0	158.0
Apr-22	147.7	77.8	70.9	134.7	96.1	164.0	170.9	194.5	144.6
May-22	156.3	80.3	73.5	137.3	126.0	172.0	165.4	199.9	149.6
Jun-22*	148.0	76.9	70.9	130.3	126.4	158.7	177.4	196.9	144.0
Jul-22*	132.7	77.3	72.6	129.8	127.6	164.6	155.0	188.9	140.7
Aug-22*	127.5	76.7	73.0	123.6	130.9	164.7	151.5	190.4	138.6

         *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	10.33	8.98	6.88	28.04	2.63	17.92	5.37	19.85	100.00
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	4.2	4.5	5.9
Mar-22	0.3	-3.4	7.6	6.1	15.3	4.1	9.0	6.1	4.8
Apr-22	30.1	-0.9	6.4	9.2	8.8	2.5	7.4	11.8	9.5
May-22	33.5	4.6	7.0	16.7	22.9	15.1	26.2	23.5	19.3
Jun-22*	32.1	-1.7	1.2	15.1	8.2	3.6	19.7	16.5	13.2
Jul-22*	11.4	-3.8	-0.3	6.2	6.2	6.0	0.5	2.3	4.5
Aug-22*	7.6	-3.3	-0.9	7.0	11.9	2.2	1.8	0.9	3.3

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

                                             

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