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 in 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 previous year.

Fertilizers – Fertilizers production (weight: 2.63 percent) increased by 15.3 percent 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.