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Combined Index of Eight Core Industries (ICI) increases by 3.8 per cent (provisional) in December 2021
Final growth rate of ICI for September 2021 revised to 5.4% from provisional 4.4%
ICI growth rate during April-December 2021 recorded at 12.6% (P) over same period last FY
The combined Index of Eight Core Industries stood at 141.3 in December 2021, which is an increase of 3.8 per cent (provisional) as compared to December 2020. The production of Coal, Natural Gas, Refinery Products, Fertilizers, Cement and Electricity industries increased in December 2021 over the corresponding period of last year.
The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT) today released the Index of Eight Core Industries (ICI) for the Month of December, 2021. 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 percent of the weight of items included in the Index of Industrial Production (IIP). Details of yearly and monthly indices and growth rates are provided at Annex I & II respectively.
Final growth rate of Index of Eight Core Industries for September 2021 is revised to 5.4% from its provisional level 4.4%. The growth rate of ICI during April-December 2021 was 12.6% (P) as compared to the corresponding period of last FY.
The summary of the Index of Eight Core Industries is given below:
Coal – Coal production (weight: 10.33 per cent) increased by 5.2 per cent in December, 2021 over December, 2020. Its cumulative index increased by 10.6 per cent during April to December, 2021-22 over corresponding period of the previous year.
Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 1.8 per cent in December, 2021 over December, 2020. Its cumulative index declined by 2.6 per cent during April to December, 2021-22 over the corresponding period of previous year.
Natural Gas - Natural Gas production (weight: 6.88 per cent) increased by 19.5 per cent in December, 2021 over December, 2020. Its cumulative index increased by 22.4 per cent during April to December, 2021-22 over the corresponding period of previous year.
Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) increased by 5.9 per cent in December, 2021 over December, 2020. Its cumulative index increased by 10.0 per cent during April to December, 2021-22 over the corresponding period of previous year.
Fertilizers – Fertilizers production (weight: 2.63 per cent) increased by 3.5 per cent in December, 2021 over December, 2020. Its cumulative index decreased by 0.1 per cent during April to December, 2021-22 over the corresponding period of previous year.
Steel – Steel production (weight: 17.92 per cent) declined by 1.0 per cent in December, 2021 over December, 2020. Its cumulative index increased by 22.1 per cent during April to December, 2021-22 over the corresponding period of previous year.
Cement – Cement production (weight: 5.37 per cent) increased by 12.9 per cent in December, 2021 over December, 2020. Its cumulative index increased by 26.1 per cent during April to December, 2021-22 over the corresponding period of previous year.
Electricity – Electricity generation (weight: 19.85 per cent) increased by 2.5 per cent in December, 2021 over December, 2020. Its cumulative index increased by 9.4 per cent during April to December, 2021-22 over the corresponding period of previous year.
Note 1: Data for October, 2021, November, 2021 and December, 2021 are provisional.
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 January, 2022 will be on Monday 28th February, 2022.
Annex I
Performance of Eight Core Industries
Base Year: 2011-12=100
Index
| Sector | Weight | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | Apr-Dec 2020-21 | Apr-Dec 2021-22* |
| Coal | 10.3335 | 103.2 | 104.2 | 112.6 | 118.0 | 121.8 | 124.9 | 134.1 | 133.6 | 131.1 | 115.3 | 127.6 |
| Crude Oil | 8.9833 | 99.4 | 99.2 | 98.4 | 97.0 | 94.5 | 93.7 | 89.8 | 84.5 | 80.1 | 80.5 | 78.3 |
| Natural Gas | 6.8768 | 85.6 | 74.5 | 70.5 | 67.2 | 66.5 | 68.4 | 69.0 | 65.1 | 59.8 | 58.7 | 71.8 |
| Refinery Products | 28.0376 | 107.2 | 108.6 | 108.8 | 114.1 | 119.7 | 125.2 | 129.1 | 129.4 | 114.9 | 110.9 | 122.1 |
| Fertilizers | 2.6276 | 96.7 | 98.1 | 99.4 | 106.4 | 106.6 | 106.6 | 107.0 | 109.8 | 111.6 | 113.9 | 113.8 |
| Steel | 17.9166 | 107.9 | 115.8 | 121.7 | 120.2 | 133.1 | 140.5 | 147.7 | 152.6 | 139.4 | 130.4 | 159.1 |
| Cement | 5.3720 | 107.5 | 111.5 | 118.1 | 123.5 | 122.0 | 129.7 | 147.0 | 145.7 | 130.0 | 117.9 | 148.7 |
| Electricity | 19.8530 | 104.0 | 110.3 | 126.6 | 133.8 | 141.6 | 149.2 | 156.9 | 158.4 | 157.6 | 154.8 | 169.3 |
| Overall Index | 100.0000 | 103.8 | 106.5 | 111.7 | 115.1 | 120.5 | 125.7 | 131.2 | 131.6 | 123.2 | 117.7 | 132.5 |
*Provisional
Growth Rates (on Y-o-Y basis in per cent)
| Sector | Weight | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | Apr-Dec 2020-21 | Apr-Dec 2021-22* |
| Coal | 10.3335 | 3.2 | 1.0 | 8.0 | 4.8 | 3.2 | 2.6 | 7.4 | -0.4 | -1.9 | -1.9 | 10.6 |
| Crude Oil | 8.9833 | -0.6 | -0.2 | -0.9 | -1.4 | -2.5 | -0.9 | -4.1 | -5.9 | -5.2 | -5.7 | -2.6 |
| Natural Gas | 6.8768 | -14.4 | -12.9 | -5.3 | -4.7 | -1.0 | 2.9 | 0.8 | -5.6 | -8.2 | -11.6 | 22.4 |
| Refinery Products | 28.0376 | 7.2 | 1.4 | 0.2 | 4.9 | 4.9 | 4.6 | 3.1 | 0.2 | -11.2 | -13.5 | 10.0 |
| Fertilizers | 2.6276 | -3.3 | 1.5 | 1.3 | 7.0 | 0.2 | 0.03 | 0.3 | 2.7 | 1.7 | 3.0 | -0.1 |
| Steel | 17.9166 | 7.9 | 7.3 | 5.1 | -1.3 | 10.7 | 5.6 | 5.1 | 3.4 | -8.7 | -15.6 | 22.1 |
| Cement | 5.3720 | 7.5 | 3.7 | 5.9 | 4.6 | -1.2 | 6.3 | 13.3 | -0.9 | -10.8 | -17.9 | 26.1 |
| Electricity | 19.8530 | 4.0 | 6.1 | 14.8 | 5.7 | 5.8 | 5.3 | 5.2 | 0.9 | -0.5 | -3.6 | 9.4 |
| Overall Growth | 100.0000 | 3.8 | 2.6 | 4.9 | 3.0 | 4.8 | 4.3 | 4.4 | 0.4 | -6.4 | -9.8 | 12.6 |
*Provisional, YoY is calculated over the corresponding financial year of previous year
Annex II
Performance of Eight Core Industries
Base Year: 2011-12=100
Index
| Sector | Coal | Crude Oil | Natural Gas | Refinery Products | Fertilizers | Steel | Cement | Electricity | Overall Index |
| Weight | 10.3335 | 8.9833 | 6.8768 | 28.0376 | 2.6276 | 17.9166 | 5.3720 | 19.8530 | 100.0000 |
| Dec-20 | 156.2 | 80.5 | 60.8 | 126.9 | 117.0 | 170.9 | 147.8 | 157.9 | 136.1 |
| Jan-21 | 161.6 | 81.1 | 64.0 | 130.9 | 117.5 | 168.1 | 154.6 | 164.2 | 139.2 |
| Feb-21 | 163.6 | 73.2 | 57.7 | 114.8 | 103.9 | 156.3 | 160.9 | 153.9 | 129.6 |
| Mar-21 | 210.3 | 82.4 | 67.5 | 134.4 | 93.4 | 175.2 | 182.5 | 180.0 | 150.8 |
| Apr-21 | 113.5 | 78.5 | 66.7 | 123.4 | 88.3 | 160.0 | 159.0 | 174.0 | 132.0 |
| May-21 | 117.1 | 76.8 | 68.7 | 117.7 | 102.5 | 149.4 | 131.1 | 161.9 | 125.4 |
| Jun-21 | 112.1 | 78.2 | 70.0 | 113.2 | 116.9 | 153.1 | 148.2 | 169.1 | 127.2 |
| Jul-21 | 119.2 | 80.3 | 72.8 | 122.2 | 120.1 | 155.2 | 154.3 | 184.7 | 134.7 |
| Aug-21 | 118.4 | 79.4 | 73.7 | 115.5 | 117.0 | 161.1 | 148.8 | 188.7 | 134.2 |
| Sep-21 | 113.8 | 77.0 | 73.3 | 112.7 | 113.6 | 160.5 | 141.1 | 167.9 | 128.0 |
| Oct-21* | 140.4 | 79.2 | 76.3 | 127.5 | 122.9 | 165.5 | 161.9 | 167.3 | 137.4 |
| Nov-21* | 149.2 | 76.6 | 72.2 | 131.9 | 121.4 | 158.3 | 127.3 | 147.9 | 132.0 |
| Dec-21* | 164.3 | 79.1 | 72.7 | 134.4 | 121.1 | 169.1 | 166.8 | 161.9 | 141.3 |
*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 | 10.3335 | 8.9833 | 6.8768 | 28.0376 | 2.6276 | 17.9166 | 5.3720 | 19.8530 | 100.0000 |
| Dec-20 | 2.2 | -3.6 | -7.2 | -2.8 | -2.9 | 3.5 | -7.2 | 5.1 | 0.4 |
| Jan-21 | -1.9 | -4.6 | -2.1 | -2.6 | 0.8 | 8.2 | -5.8 | 5.5 | 1.3 |
| Feb-21 | -4.4 | -3.2 | -1.0 | -10.9 | -3.7 | 2.2 | 0.2 | 0.2 | -3.3 |
| Mar-21 | 0.3 | -3.1 | 12.3 | -0.7 | -5.0 | 31.5 | 40.6 | 22.5 | 12.6 |
| Apr-21 | 9.5 | -2.1 | 25.0 | 30.9 | 3.9 | 494.8 | 606.6 | 38.5 | 62.6 |
| May-21 | 7.0 | -6.3 | 20.1 | 15.3 | -9.6 | 55.1 | 11.7 | 7.5 | 16.4 |
| Jun-21 | 7.4 | -1.8 | 20.6 | 2.4 | 2.0 | 25.2 | 7.5 | 8.2 | 9.4 |
| Jul-21 | 18.8 | -3.2 | 19.0 | 6.7 | 0.6 | 9.4 | 21.7 | 11.0 | 9.9 |
| Aug-21 | 20.6 | -2.3 | 20.7 | 9.1 | -3.1 | 6.9 | 36.3 | 16.0 | 12.2 |
| Sep-21 | 7.8 | -1.7 | 27.5 | 6.0 | 0.04 | 7.1 | 11.3 | 0.9 | 5.4 |
| Oct-21* | 14.7 | -2.2 | 25.8 | 14.4 | 0.04 | 4.5 | 14.5 | 3.2 | 8.4 |
| Nov-21* | 8.2 | -2.2 | 23.7 | 4.3 | 2.5 | 1.4 | -3.6 | 2.1 | 3.4 |
| Dec-21* | 5.2 | -1.8 | 19.5 | 5.9 | 3.5 | -1.0 | 12.9 | 2.5 | 3.8 |
*Provisional, YoY is calculated over the corresponding month of previous year
