Index of Eight Core Industries posts robust growth of 10.4 per cent during last fiscal

Index of Eight Core Industries (ICI) posted robust growth of 10.4 per cent during the 2021-22 fiscal as compared to the corresponding period of the previous Financial Year. According to the Ministry of Commerce & Industry data, the combined Index of Eight Core Industries grew 4.3 per cent in March this year as compared to the Index of March 2021.

The growth in the production of natural gas stood at 7.6 per cent, the steel index appreciated 3.7 per cent, the cement index grew 8.8 per cent and electricity stood at 4.9 per cent in March 2022. Refinery Products grew 6.2 per cent and fertilizers output grew by 15.3 per cent in March this year.

As per the Office of Economic Adviser, Department for Promotion of Industry and Internal Trade data, the final growth rate of the Index of Eight Core Industries for December 2021 has been revised to 4.1 per cent from its provisional level of 3.8 per cent.

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 per cent of the weight of items included in the Index of Industrial Production (IIP).