Index of Eight Core Industries (ICI) increased by 6.0% in Feb’23

The combined Index of Eight Core Industries (ICI) increased by 6.0 per cent (provisional) in February 2023 as compared to the Index of February 2022. The production of Fertilizers, Coal, Electricity, Cement, Steel, Refinery Products and Natural Gas increased in February 2023 over the corresponding month of last year. ICI measures combined and individual performance of 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 cumulative growth rate of ICI during April-February 2022-23 reported 7.8 per cent (provisional) as compared to the corresponding period of last year. The summary of the Index of Eight Core Industries is given below:

Coal – Coal production (weight: 10.33 per cent) increased by 8.5 per cent in February, 2023 over February, 2022. Its cumulative index increased by 15.2 per cent during April to February 2022-23 over corresponding period of the previous year.

Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 4.9 per cent in February, 2023 over February, 2022. Its cumulative index declined by 1.6 per cent during April to February, 2022-23 over the corresponding period of previous year.

Natural Gas – Natural Gas production (weight: 6.88 per cent) increased by 3.2 per cent in February, 2023 over February, 2022. Its cumulative index increased by 1.5 per cent during April to February, 2022-23 over the corresponding period of previous year.

Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) increased by 3.3 per cent in February, 2023 over February, 2022. Its cumulative index increased by 5.2 per cent during April to February, 2022-23 over the corresponding period of previous year.

Fertilizers – Fertilizers production (weight: 2.63 per cent) increased by 22.2 per cent in February, 2023 over February, 2022. Its cumulative index increased by 11.5 per cent during April to February, 2022-23 over the corresponding period of previous year.

Steel – Steel production (weight: 17.92 per cent) increased by 6.9 per cent in February, 2023 over February, 2022. Its cumulative index increased by 7.5 per cent during April to February, 2022-23 over the corresponding period of previous year.

Cement – Cement production (weight: 5.37 per cent) increased by 7.3 per cent in February, 2023 over February, 2022. Its cumulative index increased by 9.7 per cent during April to February, 2022-23 over the corresponding period of previous year.

Electricity – Electricity generation (weight: 19.85 per cent) increased by 7.6 per cent in February, 2023 over February, 2022. Its cumulative index increased by 9.9 per cent during April to February, 2022-23 over the corresponding period of previous year.