Combined Index of Eight Core Industries (ICI) increases by 3.8 per cent (provisional) in December 2021


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


Yearly Index & Growth Rate


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


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

10.3335

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




                                                                                         ***


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