Combined Index of Eight Core Industries up by 7.8% in January 2023
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The combined Index of Eight Core Industries (ICI) increased by 7.8 per cent (provisional) in January 2023 as compared to the Index of January 2022.
The production of fertilisers, coal, electricity, steel, natural gas, cement and refinery products increased while production of crude oil declined in January 2023 over the corresponding month of last year, said the government data released on Tuesday.
ICI measures combined and individual performance of production of eight core industries viz. coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity. These eight comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
The cumulative growth rate of ICI during April-January 2022-23 was 7.9 per cent(provisional) as compared to the corresponding period of last year.
Coal production (weight: 10.33 per cent) increased by 13.4 per cent in January 2023 over January 2022. Its cumulative index increased by 16.1 per cent during April to January 2022-23 over the corresponding period of the previous year.
However, crude oil production (weight: 8.98 per cent) declined by 1.1 per cent in January 2023 over January 2022. Its cumulative index declined by 1.3 per cent during April to January, 2022-23 over the corresponding period of previous year.
Natural gas production (weight: 6.88 per cent) increased by 5.3 per cent in January 2023 over January 2022. Its cumulative index increased by 1.4 per cent during April to January 2022-23 over the corresponding period of previous year.
Petroleum refinery production (weight: 28.04 per cent) increased by 4.5 per cent in January 2023 over January 2022. Its cumulative index increased by 5.4 per cent during April to January 2022-23 over the corresponding period of previous year.
Fertilisers production (weight: 2.63 per cent) increased by 17.9 per cent in January 2023 over January 2022. Its cumulative index increased by 10.5 per cent during April to January, 2022-23 over the corresponding period of previous year.
Steel production (weight: 17.92 per cent) increased by 6.2 per cent in January 2023 over January 2022. Its cumulative index increased by 7.1 per cent during April to January 2022-23 over the corresponding period of previous year.
Cement production (weight: 5.37 per cent) increased by 4.6 per cent in January 2023 over January 2022. Its cumulative index increased by 10.0 per cent during April to January 2022-23 over the corresponding period of previous year.
Electricity generation (weight: 19.85 per cent) increased by 12 per cent in January 2023 over Januar, 2022. Its cumulative index increased by 10.1 per cent during April to January 2022-23 over the corresponding period of previous year.
