Index of Eight Core Industries

Why is in news? Combined Index of Eight Core Industries increases by 5.4 per cent (provisional) in November 2022 compared to November 2021

The combined Index of Eight Core Industries increased by 5.4 per cent (provisional) in November 2022 as compared to the Index of November 2021.

The production of Cement, Coal, Electricity, Steel and Fertilizers increased in November 2022 over the corresponding month of last 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 Office of Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT) has released the Index of Eight Core Industries (ICI).

NSO compiles the Index of Industrial Production (IIP) using secondary data received from 14 source agencies in various Ministries/Departments or their attached/subordinate offices.

The Department of Industrial Policy and Promotion (DIPP) is the source for the major chunk of data for the calculation.

The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

The eight core sector industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.