Team News Riveting
New Delhi, December 29
The combined Index of Eight Core Industries (ICI) increased by 7.8 per cent (provisional) in November 2023 as compared to the Index of November 2022. The production of Coal, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel recorded positive growth in November 2023. The details of annual and monthly indices and growth rates are provided at Annex I and Annex II respectively.
The ICI measures combined and individual performance of production of eight core industries viz. Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
The final growth rate of Index of Eight Core Industries for August 2023 is revised to 13.4 per cent. The cumulative growth rate of ICI during April to November, 2023-24 is 8.6 per cent (provisional) as compared to the corresponding period of last year.
The summary of the Index of Eight Core Industries is given below:
Cement – Cement production (weight: 5.37 per cent) decreased by 3.6 per cent in November, 2023 over November, 2022. Its cumulative index increased by 10.3 per cent during April to November, 2023-24 over corresponding period of the previous year.
Coal – Coal production (weight: 10.33 per cent) increased by 10.9 per cent in November, 2023 over November, 2022. Its cumulative index increased by 12.8 per cent during April to November, 2023-24 over corresponding period of the previous year.
Crude Oil – Crude Oil production (weight: 8.98 per cent) decreased by 0.4 per cent in November, 2023 over November, 2022. Its cumulative index declined by 0.2 per cent during April to November, 2023-24 over corresponding period of the previous year.
Electricity – Electricity generation (weight: 19.85 per cent) increased by 5.6 per cent in November, 2023 over November, 2022. Its cumulative index increased by 7.7 per cent during April to November, 2023-24 over corresponding period of the previous year.
Fertilizers – Fertilizer production (weight: 2.63 per cent) increased by 3.4 per cent in November, 2023 over November, 2022. Its cumulative index increased by 6.3 per cent during April to November, 2023-24 over corresponding period of the previous year.
Natural Gas – Natural Gas production (weight: 6.88 per cent) increased by 7.6 per cent in November, 2023 over November, 2022. Its cumulative index increased by 5.4 per cent during April to November, 2023-24 over corresponding period of the previous year.
Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) increased by 12.4 per cent in November, 2023 over November, 2022. Its cumulative index increased by 5.0 per cent during April to November, 2023-24 over corresponding period of the previous year.
Steel – Steel production (weight: 17.92 per cent) increased by 9.1 per cent in November, 2023 over November, 2022. Its cumulative index increased by 14.2 per cent during April to November, 2023-24 over corresponding period of the previous year.
