Apr 29:INDEX OF EIGHT CORE INDUSTRIES (BASE: 2011-12=100) FOR MARCH, 2022
The cumulative growth rate of the Index of Eight Core Industries (ICI) from April-March 2021-to 22 was 10.4% (provisional) as compared to the corresponding period of the last Financial Year. The combined Index of Eight Core Industries stood at 157.3 in March 2022, which increased by 4.3 percent (provisional) as compared to the Index of March 2021. The final growth rate of the Index of Eight Core Industries for December 2021 is revised to 4.1% from its provisional level of 3.8%.
The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade released the Index of Eight Core Industries (ICI) for the Month of March, 2022. 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 production of Natural Gas, Refinery Products, Fertilizers, Steel, Cement, and Electricity industries increased in March 2022 over the corresponding period of last year.
The summary of the Index of Eight Core Industries is given below:
Coal – Coal production (weight: 10.33 percent) declined by 0.1 percent in March 2022 over March 2021. Its cumulative index increased by 8.5 percent from April to March 2021-22 over the corresponding period of the previous year.
Crude Oil – Crude Oil production (weight: 8.98 percent) declined by 3.4 percent in March 2022 over March 2021. Its cumulative index declined by 2.6 percent from April to March, 2021-22 over the corresponding period of the previous year.
Natural Gas – Natural Gas production (weight: 6.88 percent) increased by 7.6 percent in March 2022 over March 2021. Its cumulative index increased by 19.2 percent from April to March 2021-22 over the corresponding period of the previous year.
Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 percent) increased by 6.2 percent in March 2022 and over March 2021. Its cumulative index increased by 8.9 percent from April to March, 2021-22 over the corresponding period of the previous year.
Fertilizers – Fertilizers production (weight: 2.63 percent) increased by 15.3 per cent in March, 2022 over March 2021. Its cumulative index increased by 0.7 percent from April to March 2021-22 over the corresponding period of the previous year.
Steel – Steel production (weight: 17.92 percent) increased by 3.7 percent in March 2022 over March 2021. Its cumulative index increased by 16.9 percent from April to March 2021-22 over the corresponding period of the previous year.
Cement – Cement production (weight: 5.37 percent) increased by 8.8 percent in March 2022 over March 2021. Its cumulative index increased by 20.8 percent from April to March 2021-22 over the corresponding period of the previous year.
Electricity – Electricity generation (weight: 19.85 percent) increased by 4.9 percent in March 2022 over March, 2021. Its cumulative index increased by 7.8 percent from April to March 2021-22 over the corresponding period of the previous year.
Note 1: Data for January, 2022, February 2022, and March 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 weights derived from IIP and blown up on a 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: The release of the index for April 2022 will be on Tuesday 31st May 2022.
Annex I
Performance of Eight Core Industries
Yearly Index & Growth Rate
Base Year: 2011-12=100
Index
| Sector | Weight | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | Apr-Mar 2020-21 | Apr-Mar 2021-22* |
| Coal | 10.3335 | 103.2 | 104.2 | 112.6 | 118.0 | 121.8 | 124.9 | 134.1 | 133.6 | 131.1 | 131.1 | 142.3 |
| Crude Oil | 8.9833 | 99.4 | 99.2 | 98.4 | 97.0 | 94.5 | 93.7 | 89.8 | 84.5 | 80.1 | 80.1 | 77.9 |
| Natural Gas | 6.8768 | 85.6 | 74.5 | 70.5 | 67.2 | 66.5 | 68.4 | 69.0 | 65.1 | 59.8 | 59.8 | 71.3 |
| Refinery Products | 28.0376 | 107.2 | 108.6 | 108.8 | 114.1 | 119.7 | 125.2 | 129.1 | 129.4 | 114.9 | 114.9 | 125.2 |
| Fertilizers | 2.6276 | 96.7 | 98.1 | 99.4 | 106.4 | 106.6 | 106.6 | 107.0 | 109.8 | 111.6 | 111.6 | 112.4 |
| Steel | 17.9166 | 107.9 | 115.8 | 121.7 | 120.2 | 133.1 | 140.5 | 147.7 | 152.6 | 139.4 | 139.4 | 163.0 |
| Cement | 5.3720 | 107.5 | 111.5 | 118.1 | 123.5 | 122.0 | 129.7 | 147.0 | 145.7 | 130.0 | 130.0 | 157.1 |
| Electricity | 19.8530 | 104.0 | 110.3 | 126.6 | 133.8 | 141.6 | 149.2 | 156.9 | 158.4 | 157.6 | 157.6 | 169.9 |
| Overall Index | 100.0000 | 103.8 | 106.5 | 111.7 | 115.1 | 120.5 | 125.7 | 131.2 | 131.6 | 123.2 | 123.2 | 136.0 |
*Provisional
Growth Rates (on Y-o-Y basis in per cent)
| Sector | Weight | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | Apr-Mar 2020-21 | Apr-Mar 2021-22* |
| Coal | 10.3335 | 3.2 | 1.0 | 8.0 | 4.8 | 3.2 | 2.6 | 7.4 | -0.4 | -1.9 | -1.9 | 8.5 |
| Crude Oil | 8.9833 | -0.6 | -0.2 | -0.9 | -1.4 | -2.5 | -0.9 | -4.1 | -5.9 | -5.2 | -5.2 | -2.6 |
| Natural Gas | 6.8768 | -14.4 | -12.9 | -5.3 | -4.7 | -1.0 | 2.9 | 0.8 | -5.6 | -8.2 | -8.2 | 19.2 |
| Refinery Products | 28.0376 | 7.2 | 1.4 | 0.2 | 4.9 | 4.9 | 4.6 | 3.1 | 0.2 | -11.2 | -11.2 | 8.9 |
| Fertilizers | 2.6276 | -3.3 | 1.5 | 1.3 | 7.0 | 0.2 | 0.03 | 0.3 | 2.7 | 1.7 | 1.7 | 0.7 |
| Steel | 17.9166 | 7.9 | 7.3 | 5.1 | -1.3 | 10.7 | 5.6 | 5.1 | 3.4 | -8.7 | -8.7 | 16.9 |
| Cement | 5.3720 | 7.5 | 3.7 | 5.9 | 4.6 | -1.2 | 6.3 | 13.3 | -0.9 | -10.8 | -10.8 | 20.8 |
| Electricity | 19.8530 | 4.0 | 6.1 | 14.8 | 5.7 | 5.8 | 5.3 | 5.2 | 0.9 | -0.5 | -0.5 | 7.8 |
| Overall Growth | 100.0000 | 3.8 | 2.6 | 4.9 | 3.0 | 4.8 | 4.3 | 4.4 | 0.4 | -6.4 | -6.4 | 10.4 |
*Provisional, YoY is calculated over the corresponding financial year of the 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 |
| Mar-21 | 210.3 | 82.4 | 67.5 | 134.4 | 93.4 | 175.2 | 182.5 | 180.0 | 150.8 |
| Apr-21 | 113.5 | 78.5 | 66.7 | 123.4 | 88.3 | 160.0 | 159.0 | 174.0 | 132.0 |
| 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 | 174.2 | 176.7 | 165.6 | 144.8 |
| Feb-22* | 174.7 | 71.6 | 64.9 | 124.9 | 102.4 | 165.5 | 169.0 | 160.8 | 137.3 |
| Mar-22* | 210.0 | 79.6 | 72.6 | 142.6 | 107.7 | 181.6 | 198.6 | 188.8 | 157.3 |
*Provisional
Growth Rates (on a Y-o-Y basis in percent)
| 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 |
| Mar-21 | 0.3 | -3.1 | 12.3 | -0.7 | -5.0 | 31.5 | 40.6 | 22.5 | 12.6 |
| Apr-21 | 9.5 | -2.1 | 25.0 | 30.9 | 3.9 | 494.8 | 606.6 | 38.5 | 62.6 |
| 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 | 0.0 | 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 | 2.49 | 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 | 3.7 | 14.3 | 0.9 | 4.0 |
| Feb-22* | 6.8 | -2.2 | 12.5 | 8.8 | -1.4 | 5.9 | 5.0 | 4.5 | 6.0 |
| Mar-22* | -0.1 | -3.4 | 7.6 | 6.2 | 15.3 | 3.7 | 8.8 | 4.9 | 4.3 |
*Provisional, YoY is calculated over the corresponding month of previous year
***
Disclaimer: We donot claim that the images used as part of the news published are always owned by us. From time to time, we use images sourced as part of news or any related images or representations. Kindly take a look at our image usage policy on how we select the image that are used as part of the news.
