New Delhi: The combined Index of Eight Core Industries (ICI) increased by 6.1 per cent (provisional) year-on-year in July, the Ministry of Commerce and Industry said in a statement. The production of steel, electricity, coal, refinery products, cement, and fertilizers recorded positive growth in July 2024, the ministry said.
The index measures the combined and individual performance of the production of eight core industries — coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity. The index was 4 per cent in June. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
The summary of the Index of Eight Core Industries is given below:
Coal – Coal production (weight: 10.33 per cent) increased by 14.9 per cent in July, 2023 over July, 2022. Its cumulative index increased by 10.1 per cent during April to July, 2023-24 over the corresponding period of the previous year.
Crude Oil – Crude Oil production (weight: 8.98 per cent) increased by 2.1 per cent in July, 2023 over July, 2022. Its cumulative index declined by 1.0 per cent during April to July 2023-24 over the corresponding period of the previous year.
Natural Gas – Natural Gas production (weight: 6.88 per cent) increased by 8.9 per cent in July, 2023 over July, 2022. Its cumulative index increased by 2.3 per cent during April to July, 2023-24 over the corresponding period of previous year.
Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) increased by 3.6 per cent in July, 2023 over July, 2022. Its cumulative index increased by 2.3 per cent during April to July, 2023-24 over the corresponding period of previous year.
Fertilizers – Fertilizer production (weight: 2.63 per cent) increased by 3.3 per cent in July, 2023 over July, 2022. Its cumulative index increased by 9.1 per cent during April to July, 2023-24 over the corresponding period of previous year.
Steel – Steel production (weight: 17.92 per cent) increased by 13.5 per cent in July, 2023 over July, 2022. Its cumulative index increased by 15.3 per cent during April to July, 2023-24 over the corresponding period of previous year.
Cement – Cement production (weight: 5.37 per cent) increased by 7.1 per cent in July, 2023 over July, 2022. Its cumulative index increased by 11.2 per cent during April to July, 2023-24 over the corresponding period of previous year.
Electricity – Electricity generation (weight: 19.85 per cent) increased by 6.9 per cent in July, 2023 over July, 2022. Its cumulative index increased by 2.7 per cent during April to July, 2023-24 over the corresponding period of previous year.