New Delhi, Oct 3, (LAB) The combined Index of Eight Core Industries (ICI) grew by 12.1% (provisional) in August 2023 in contrast to August 2022. The production of the Eight Core Industries (specifically, cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel) increased in August 2023 compared to the previous 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).
According to Dr S P Sharma, Chief Economist, PHD Research Bureau, PHDCCI, these figures were compiled from the Ministry of Commerce and Industry. The y-o-y growth rate of Coal Stands at 17.9%, Crude oil at 2.1%, Natural Gas at 10.0%, Refinery Products at 9.5%, Fertilizers at 1.8%, Steel at 10.9%, Cement at 18.9% and Electricity at 14.9% in August 2023 as the y-o-y growth rate of Coal Stands at 14.9%, Crude oil at 2.1%, Natural Gas at 8.9%, Refinery Products at 3.6%, Fertilizers at 3.3%, Steel at 13.5%, Cement at 7.1% and Electricity at 6.9% in July 2023, Mr Sharma said.