The combined index of eight core industries (ICI) recorded a growth of 4.3% in November 2024 as compared to November 2023.ICI measures the combined and individual performance of eight core industries namely coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity generation. The eight core industries account for 40.27% of the weight of items included in the Index of Industrial Production (IIP).
Final growth rate: For August 2024, the ICI declined by 1.5%.
Cumulative growth: The cumulative growth of ICI for April-November 2024-25 is 4.2% (provisional) as compared to the same period of the previous year.These industries represent 40.27% of the total weight of items included in the Index of Industrial Production (IIP).
Core Sector Performance (November 2024)
Core Sector Growth
- Core sector growth means the increase in production/output of the main industries of an economy over a period of time.
- These core industries are important for the economy and are considered a yardstick of industrial performance.
Index of Eight Core Industries
- The ICI is prepared monthly and reflects the performance of India’s industrial sector.
Key Components
- Coal: Total production excluding coking coal.
- Electricity: Electricity from thermal, nuclear, hydro sources and imported electricity from Bhutan.
- Crude Oil: Total crude oil production.
- Cement: Production of both large and small plants.
- Natural Gas: Total natural gas production.
- Steel: Production of alloy and non-alloy steel.
- Refinery Products: Total refinery production.
- Fertilizer: Production of fertilizers like urea, ammonium sulphate etc.
Index of Eight Core Industries (ICI) Reporting
Reporting Process
Preparation and Release
- ICI is prepared every month.
- It is released after a lag of one month (on the last day of the month).
- The report is released by the Office of the Economic Adviser, Department for Promotion of Industrial and Internal Trade (DPIIT), and Ministry of Commerce and Industry.
Base Year
- The current base year of ICI is 2011-12, same as Index of Industrial Production (IIP).