DAILY NEWS ANALYSIS

01 January, 2022
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Index of core industries

Index of eight core industries

The eight core sector industries include coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity.
The eight Core Industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.

Industry	Weight (In percentage)
Petroleum & Refinery production	28.04
Electricity generation	19.85
Steel production	17.92
Coal production	10.33
Crude Oil production	8.98
Natural Gas production	6.88
Cement production	5.37
Fertilizers production	2.63

The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

Index of Industrial Production (IIP)

The Index of Industrial Production (IIP) is an index which details out the growth of various sectors in an economy such as mineral mining, electricity, manufacturing, etc.
It is compiled and published monthly by the Central Statistical Organisation (CSO), Ministry of Statistics and Programme Implementation six weeks after the reference month ends, i.e a lag of six weeks.
The Base Year of the Index of Eight Core Industries has been revised from the year 2004-05 to 2011-12 from April, 2017.

The combined Index of Eight Core Industries stood at 125.8 in May 2021, which increased by 16.8 per cent (provisional) as compared to the Index of May 2020.
The production of Coal, Natural Gas, Refinery Products, Steel, Cement and Electricityindustries increased in May 2021 over the corresponding period of last year.

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The summary of the Index of Eight Core Industries is given below:

Coal – Coal production (weight: 10.33 per cent) increased by 6.9 per cent in May, 2021 over May, 2020.
Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 6.3 per cent in May, 2021 over May, 2020.
Natural Gas - Natural Gas production (weight: 6.88 per cent) increased by 20.1 per cent in May, 2021 over May, 2020.
Petroleum Refinery production (weight: 28.04 per cent) increased by 15.3 per cent in May, 2021 over May, 2020. corresponding period of previous year.
Fertilizers – Fertilizers production (weight: 2.63 per cent) decreased by 9.6 per cent in May, 2021 over May, 2020.
Steel – Steel production (weight: 17.92 per cent) increased by 59.3 per cent in May 2021 over May 2020.
Cement – Cement production (weight: 5.37 per cent) increased by 7.9 per cent in May 2021 over May 2020.
Electricity – Electricity generation (weight: 19.85 per cent) increased by 7.3 per cent in May, 2021 over May, 2020.

Source: PIB

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