A cement factory
New Delhi: The combined Index of Eight Core Industries (ICI) increased by 3.6 per cent (provisional) in January 2024 as compared to the Index of January 2023, data released today by the Ministry of Commerce & Industry revealed. It showed that the production of Coal, Steel, Cement, Natural Gas, Electricity and Crude Oil recorded positive growth in January 2024.
The ICI measures the combined and individual performance of the production of eight core industries – Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
The final growth rate of the Index of Eight Core Industries for October 2023 was revised to 12.7 per cent. The cumulative growth rate of ICI from April to January 2023-24 was 7.7 per cent (provisional) compared to the corresponding period of last year.
The summary of the Index of Eight Core Industries is as follows:
Cement – Cement production (weight: 5.37 per cent) increased by 5.6 per cent in January 2024 over January 2023. Its cumulative index increased by 9.0 per cent from April to January 2023-24 over the corresponding period of the previous year.
Coal – Coal production (weight: 10.33 per cent) increased by 10.2 per cent in January 2024 over January 2023. Its cumulative index increased by 12.2 per cent from April to January 2023-24 over the corresponding period of the previous year.
Crude Oil – Crude Oil production (weight: 8.98 per cent) increased by 0.7 per cent in January 2024 over January 2023. Its cumulative index declined by 0.2 per cent from April to January 2023-24 over the corresponding period of the previous year.
Electricity – Electricity generation (weight: 19.85 per cent) increased by 5.2 per cent in January 2024 over January 2023. Its cumulative index increased by 6.8 per cent from April to January 2023-24 over the corresponding period of the previous year.
Fertilizers – Fertilizer production (weight: 2.63 per cent) declined by 0.6 per cent in January 2024 over January 2023. Its cumulative index increased by 5.5 per cent from April to January 2023-24 over the corresponding period of the previous year.
Natural Gas – Natural Gas production (weight: 6.88 per cent) increased by 5.5 per cent in January 2024 over January 2023. Its cumulative index increased by 5.6 per cent from April to January 2023-24 over the corresponding period of the previous year.
Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) declined by 4.3 per cent in January 2024 over January 2023. Its cumulative index increased by 3.9 per cent from April to January 2023-24 over the corresponding period of the previous year.
Steel – Steel production (weight: 17.92 per cent) increased by 7.0 per cent in January 2024 over January 2023. Its cumulative index increased by 13.1 per cent from April to January 2023-24 over the corresponding period of the previous year.
– global bihari bureau
