Combined Index of Eight Core Industries stood at 133.5 in August 2021; increases by 11.6%

New Delhi: The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing Index of Eight Core Industries (ICI) for the Month of August, 2021.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 combined Index of Eight Core Industries stood at 133.5 in August 2021, which increased by11.6 per cent (provisional) as compared to the Index ofAugust 2020. The production of Coal, Natural Gas, Refinery Products, Steel, Cement and Electricity industries increased in August 2021 over the corresponding period of last year.

Final growth rate of Index of Eight Core Industries for May 2021 is revised to 16.4%from its provisional level 16.8%. The growth rate of ICI during April-August 2021-22 was 19.3% (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 20.6 per cent in August,2021 over August 2020. Its cumulative index increased by 12.5 per cent during April to August,2021-22 over the corresponding period of the previous year.

Crude Oil–Crude Oil production (weight: 8.98 per cent) declined by 2.3 per cent in august, 2021 over august,2020. Its cumulative index declined by 3.2 per cent during April to August, 2021-22over the corresponding period of the previous year.

Natural Gas – Natural Gas production (weight: 6.88 per cent) increased by 20.6 per cent in August, 2021over August, 2020. Its cumulative index increased by 21.0 per cent during April to August, 2021-22 over the corresponding period of previous year.

Petroleum Refinery Products–Petroleum Refinery production (weight: 28.04 per cent) increased by 9.1 per cent in August, 2021 over August 2020. Its cumulative index increased by 12.3 per cent during April to August, 2021-22over the corresponding period of previous year.

Fertilizers – Fertilizers production (weight: 2.63 per cent) declined by 3.1 per cent in August, 2021 over August, 2020. Its cumulative index decreased by 1.5 per cent during April to August, 2021-22 over the corresponding period of previous year.

Steel –Steel production (weight: 17.92 per cent)increased by 5.1 per cent in August, 2021 over August, 2020. Its cumulative index increased by 44.2 per cent during April to August, 2021-22 over the corresponding period of previous year.

Cement –Cement production (weight: 5.37 per cent) increased by 36.3 per cent in August, 2021 over August, 2020. Its cumulative index increased by 44.3 per cent during April to August, 2021-22 over the corresponding period of previous year.

Electricity –Electricity generation (weight: 19.85 per cent) increased by 15.3per cent in August, 2021 over August,2020. Its cumulative index increased by 15.2 per cent during April to August, 2021-22 over the corresponding period of previous year.

Note 1: Data for June, 2021, July, 2021 and August, 2021 are provisional.

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,2021 will be on Friday29th October, 2021.