Ministry of Commerce & Industry
Combined Index of Eight Core Industries (ICI) increases by 7.8 per cent (provisional) in January 2023 as compared to the Index of January 2022
Production of Fertilizers, Coal, Electricity, Steel, Natural Gas, Cement and Refinery Products increased in January 2023 over the corresponding month of last year
INDEX OF EIGHT CORE INDUSTRIES (BASE: 2011-12=100) FOR JANUARY, 2023
Posted On:
28 FEB 2023 4:55PM by PIB Delhi
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 Fertilizers, Coal, Electricity, Steel, Natural Gas, Cement and Refinery Products increased in January 2023 over the corresponding month of last year. ICI measures combined and individual performance of production of 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 annual and monthly indices and growth rates are provided at Annex I & II respectively.
2. 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.
3. The summary of the Index of Eight Core Industries is given below:
Coal - 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 corresponding period of the previous year.
Crude Oil - 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 - 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 Products - 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.
Fertilizers - Fertilizers 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 - 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 - 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 - Electricity generation (weight: 19.85 per cent) increased by 12.0 per cent in January, 2023 over January, 2022. Its cumulative index increased by 10.1 per cent during April to January, 2022-23 over the corresponding period of previous year.
Note 1: Data for November, 2022, December, 2022 and January, 2023 are provisional. Index numbers of Core Industries are revised /finalized as per updated data from source agencies.
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 February, 2023 will be on Friday 31st March, 2023.
Annex I
Performance of Eight Core Industries
Yearly Index & Growth Rate
Base Year: 2011-12=100
Index
|
Sector
|
Coal
|
Crude Oil
|
Natural Gas
|
Refinery Products
|
Fertilizers
|
Steel
|
Cement
|
Electricity
|
Overall Index
|
|
Weight
|
10.33
|
8.98
|
6.88
|
28.04
|
2.63
|
17.92
|
5.37
|
19.85
|
100.00
|
|
2012-13
|
103.2
|
99.4
|
85.6
|
107.2
|
96.7
|
107.9
|
107.5
|
104.0
|
103.8
|
|
2013-14
|
104.2
|
99.2
|
74.5
|
108.6
|
98.1
|
115.8
|
111.5
|
110.3
|
106.5
|
|
2014-15
|
112.6
|
98.4
|
70.5
|
108.8
|
99.4
|
121.7
|
118.1
|
126.6
|
111.7
|
|
2015-16
|
118.0
|
97.0
|
67.2
|
114.1
|
106.4
|
120.2
|
123.5
|
133.8
|
115.1
|
|
2016-17
|
121.8
|
94.5
|
66.5
|
119.7
|
106.6
|
133.1
|
122.0
|
141.6
|
120.5
|
|
2017-18
|
124.9
|
93.7
|
68.4
|
125.2
|
106.6
|
140.5
|
129.7
|
149.2
|
125.7
|
|
2018-19
|
134.1
|
89.8
|
69.0
|
129.1
|
107.0
|
147.7
|
147.0
|
156.9
|
131.2
|
|
2019-20
|
133.6
|
84.5
|
65.1
|
129.4
|
109.8
|
152.6
|
145.7
|
158.4
|
131.6
|
|
2020-21
|
131.1
|
80.1
|
59.8
|
114.9
|
111.6
|
139.4
|
130.0
|
157.6
|
123.2
|
|
2021-22
|
142.3
|
77.9
|
71.3
|
125.1
|
112.4
|
163.0
|
156.9
|
170.1
|
136.1
|
|
Apr-Jan 2021-22*
|
132.3
|
78.4
|
71.8
|
123.4
|
113.9
|
160.9
|
151.7
|
169.0
|
133.8
|
|
Apr-Jan 2022-23*
|
153.6
|
77.4
|
72.8
|
130.0
|
125.8
|
172.3
|
166.8
|
186.0
|
144.4
|
*Provisional
Growth Rates (on Y-o-Y basis in per cent)
|
Sector
|
Coal
|
Crude Oil
|
Natural Gas
|
Refinery Products
|
Fertilizers
|
Steel
|
Cement
|
Electricity
|
Overall Growth
|
|
Weight
|
10.33
|
8.98
|
6.88
|
28.04
|
2.63
|
17.92
|
5.37
|
19.85
|
100.00
|
|
2012-13
|
3.2
|
-0.6
|
-14.4
|
7.2
|
-3.3
|
7.9
|
7.5
|
4.0
|
3.8
|
|
2013-14
|
1.0
|
-0.2
|
-12.9
|
1.4
|
1.5
|
7.3
|
3.7
|
6.1
|
2.6
|
|
2014-15
|
8.0
|
-0.9
|
-5.3
|
0.2
|
1.3
|
5.1
|
5.9
|
14.8
|
4.9
|
|
2015-16
|
4.8
|
-1.4
|
-4.7
|
4.9
|
7.0
|
-1.3
|
4.6
|
5.7
|
3.0
|
|
2016-17
|
3.2
|
-2.5
|
-1.0
|
4.9
|
0.2
|
10.7
|
-1.2
|
5.8
|
4.8
|
|
2017-18
|
2.6
|
-0.9
|
2.9
|
4.6
|
0.0
|
5.6
|
6.3
|
5.3
|
4.3
|
|
2018-19
|
7.4
|
-4.1
|
0.8
|
3.1
|
0.3
|
5.1
|
13.3
|
5.2
|
4.4
|
|
2019-20
|
-0.4
|
-5.9
|
-5.6
|
0.2
|
2.7
|
3.4
|
-0.9
|
0.9
|
0.4
|
|
2020-21
|
-1.9
|
-5.2
|
-8.2
|
-11.2
|
1.7
|
-8.7
|
-10.8
|
-0.5
|
-6.4
|
|
2021-22
|
8.5
|
-2.6
|
19.2
|
8.9
|
0.7
|
16.9
|
20.8
|
8.0
|
10.4
|
|
Apr-Jan 2021-22*
|
10.3
|
-2.6
|
21.2
|
9.3
|
-0.3
|
19.9
|
24.7
|
8.5
|
11.6
|
|
Apr-Jan 2022-23*
|
16.1
|
-1.3
|
1.4
|
5.4
|
10.5
|
7.1
|
10.0
|
10.1
|
7.9
|
*Provisional,YoY is calculated over the corresponding financial year of previous year
Performance of Eight Core Industries
Monthly Index & Growth Rate
Base Year: 2011-12=100
Index
|
Sector
|
Coal
|
Crude Oil
|
Natural Gas
|
Refinery Products
|
Fertilizers
|
Steel
|
Cement
|
Electricity
|
Overall Index
|
|
Weight
|
10.33
|
8.98
|
6.88
|
28.04
|
2.63
|
17.92
|
5.37
|
19.85
|
100.00
|
|
Jan-22
|
174.8
|
79.1
|
71.4
|
135.8
|
115.2
|
174.5
|
176.4
|
165.6
|
144.8
|
|
Feb-22
|
174.4
|
71.6
|
64.9
|
124.9
|
102.4
|
165.0
|
167.7
|
160.8
|
137.1
|
|
Mar-22
|
210.8
|
79.6
|
72.6
|
142.5
|
107.7
|
182.4
|
198.8
|
191.0
|
158.0
|
|
Apr-22
|
147.7
|
77.8
|
70.9
|
134.7
|
96.1
|
164.0
|
170.9
|
194.5
|
144.6
|
|
May-22
|
156.3
|
80.3
|
73.5
|
137.3
|
126.0
|
172.0
|
165.4
|
199.9
|
149.6
|
|
Jun-22
|
148.0
|
76.9
|
70.9
|
130.3
|
126.4
|
158.2
|
177.4
|
196.9
|
143.9
|
|
Jul-22
|
132.7
|
77.3
|
72.6
|
129.8
|
127.6
|
166.8
|
155.4
|
188.9
|
141.1
|
|
Aug-22
|
127.5
|
76.7
|
73.0
|
123.6
|
130.9
|
170.5
|
152.0
|
191.3
|
139.9
|
|
Sep-22
|
127.5
|
75.2
|
72.1
|
120.2
|
127.0
|
172.8
|
158.7
|
187.4
|
138.6
|
|
Oct-22
|
145.8
|
77.4
|
73.0
|
123.5
|
129.5
|
177.3
|
155.2
|
169.3
|
138.8
|
|
Nov-22*
|
167.4
|
75.8
|
71.8
|
119.7
|
129.2
|
175.7
|
164.1
|
166.7
|
139.4
|
|
Dec-22*
|
184.3
|
78.2
|
74.5
|
139.3
|
129.9
|
180.5
|
184.8
|
179.4
|
151.6
|
|
Jan-23*
|
198.3
|
78.3
|
75.2
|
142.0
|
135.8
|
185.4
|
184.6
|
185.5
|
156.0
|
*Provisional
Growth Rates (on Y-o-Y basis in per cent)
|
Sector
|
Coal
|
Crude Oil
|
Natural Gas
|
Refinery Products
|
Fertilizers
|
Steel
|
Cement
|
Electricity
|
Overall Growth
|
|
Weight
|
10.33
|
8.98
|
6.88
|
28.04
|
2.63
|
17.92
|
5.37
|
19.85
|
100.00
|
|
Jan-22
|
8.2
|
-2.4
|
11.7
|
3.7
|
-2.0
|
3.8
|
14.1
|
0.9
|
4.0
|
|
Feb-22
|
6.6
|
-2.2
|
12.5
|
8.8
|
-1.4
|
5.6
|
4.2
|
4.5
|
5.9
|
|
Mar-22
|
0.3
|
-3.4
|
7.6
|
6.1
|
15.3
|
4.1
|
9.0
|
6.1
|
4.8
|
|
Apr-22
|
30.1
|
-0.9
|
6.4
|
9.2
|
8.8
|
2.5
|
7.4
|
11.8
|
9.5
|
|
May-22
|
33.5
|
4.6
|
7.0
|
16.7
|
22.9
|
15.1
|
26.2
|
23.5
|
19.3
|
|
Jun-22
|
32.1
|
-1.7
|
1.2
|
15.1
|
8.2
|
3.3
|
19.7
|
16.5
|
13.1
|
|
Jul-22
|
11.4
|
-3.8
|
-0.3
|
6.2
|
6.2
|
7.5
|
0.7
|
2.3
|
4.8
|
|
Aug-22
|
7.7
|
-3.3
|
-0.9
|
7.0
|
11.9
|
5.8
|
2.1
|
1.4
|
4.2
|
|
Sep-22
|
12.1
|
-2.3
|
-1.7
|
6.6
|
11.8
|
7.7
|
12.4
|
11.6
|
8.3
|
|
Oct-22
|
3.8
|
-2.2
|
-4.2
|
-3.1
|
5.4
|
5.8
|
-4.2
|
1.2
|
0.7
|
|
Nov-22*
|
12.2
|
-1.1
|
-0.7
|
-9.3
|
6.4
|
11.7
|
29.0
|
12.7
|
5.7
|
|
Dec-22*
|
12.2
|
-1.2
|
2.6
|
3.7
|
7.3
|
6.3
|
9.5
|
10.4
|
7.0
|
|
Jan-23*
|
13.4
|
-1.1
|
5.3
|
4.5
|
17.9
|
6.2
|
4.6
|
12.0
|
7.8
|
*Provisional,YoY is calculated over the corresponding month of previous year
*******
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