Home » Commerce and Industry » INDEX OF EIGHT CORE INDUSTRIES (BASE: 2011-12=100) FOR MAY, 2021

INDEX OF EIGHT CORE INDUSTRIES (BASE: 2011-12=100) FOR MAY, 2021

The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing Index of Eight Core Industries (ICI) for the Month of May, 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.

The combined Index of Eight Core Industries stood at 125.8 in May 2021, which increased by 16.8 per cent (provisional) as compared to the Index of May 2020. The production of Coal, Natural Gas, Refinery Products, Steel, Cement and Electricity industries increased in May 2021 over the corresponding period of last year.

Final growth rate of Index of Eight Core Industries for February 2021 is revised to (-) 3.3% from its provisional level (-) 4.6%. The growth rate of ICI during April-May 2021-22 was 35.8% (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 6.9 per cent in May, 2021 over May, 2020. Its cumulative index increased by 8.2 per cent during April to May, 2021-22 over corresponding period of the previous year.

Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 6.3 per cent in May, 2021 over May, 2020. Its cumulative index declined by 4.2 per cent during April to May, 2021-22 over the corresponding period of previous year.

Natural Gas – Natural Gas production (weight: 6.88 per cent) increased by 20.1 per cent in May, 2021 over May, 2020. Its cumulative index increased by 22.5 per cent during April to May, 2021-22 over the corresponding period of previous year.

Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) increased by 15.3 per cent in May, 2021 over May, 2020. Its cumulative index increased by 22.8 per cent during April to May, 2021-22 over the corresponding period of previous year.

Fertilizers – Fertilizers production (weight: 2.63 per cent) decreased by 9.6 per cent in May, 2021 over May, 2020. Its cumulative index decreased by 3.9 per cent during April to May, 2021-22 over the corresponding period of previous year.

Steel – Steel production (weight: 17.92 per cent) increased by 59.3 per cent in May, 2021 over May, 2020. Its cumulative index increased by 149.5 per cent during April to May, 2021-22 over the corresponding period of previous year.

Cement – Cement production (weight: 5.37 per cent) increased by 7.9 per cent in May, 2021 over May, 2020. Its cumulative index increased by 100.4 per cent during April to May, 2021-22 over the corresponding period of previous year.

Electricity – Electricity generation (weight: 19.85 per cent) increased by 7.3 per cent in May, 2021 over May, 2020. Its cumulative index increased by 21.5 per cent during April to May, 2021-22 over the corresponding period of previous year.

Note 1: Data for March, 2021, April, 2021 and May, 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 June, 2021 will be on Friday 30th July, 2021.

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- May  2020-21 Apr- May  2021-22*
Coal 10.3335 103.2 104.2 112.6 118.0 121.8 124.9 134.1 133.6 131.1 106.5 115.2
Crude Oil 8.9833 99.4 99.2 98.4 97.0 94.5 93.7 89.8 84.5 80.1 81.1 77.7
Natural Gas 6.8768 85.6 74.5 70.5 67.2 66.5 68.4 69.0 65.1 59.8 55.3 67.7
Refinery Products 28.0376 107.2 108.6 108.8 114.1 119.7 125.2 129.1 129.4 114.9 98.1 120.5
Fertilizers 2.6276 96.7 98.1 99.4 106.4 106.6 106.6 107.0 109.8 111.5 99.2 95.4
Steel 17.9166 107.9 115.8 121.7 120.2 133.1 140.5 147.7 152.6 138.9 61.6 153.8
Cement 5.3720 107.5 111.5 118.1 123.5 122.0 129.7 147.0 145.7 129.1 69.9 140.2
Electricity 19.8530 104.0 110.3 126.6 133.8 141.6 149.2 156.9 158.4 157.6 138.1 167.8
Overall Index 100.00 103.8 106.5 111.7 115.1 120.5 125.7 131.2 131.6 123.1 94.4 128.2

*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- May  2020-21 Apr- May  2021-22*
Coal 10.3335 3.2 1.0 8.0 4.8 3.2 2.6 7.4 -0.4 -1.9 -14.7 8.2
Crude Oil 8.9833 -0.6 -0.2 -0.9 -1.4 -2.5 -0.9 -4.1 -5.9 -5.2 -6.7 -4.2
Natural Gas 6.8768 -14.4 -12.9 -5.3 -4.7 -1.0 2.9 0.8 -5.6 -8.2 -18.3 22.5
Refinery Products 28.0376 7.2 1.4 0.2 4.9 4.9 4.6 3.1 0.2 -11.2 -22.7 22.8
Fertilizers 2.6276 -3.3 1.5 1.3 7.0 0.2 0.03 0.3 2.7 1.5 2.0 -3.9
Steel 17.9166 7.9 7.3 5.1 -1.3 10.7 5.6 5.1 3.4 -9.0 -61.3 149.5
Cement 5.3720 7.5 3.7 5.9 4.6 -1.2 6.3 13.3 -0.9 -11.4 -53.7 100.4
Electricity 19.8530 4.0 6.1 14.8 5.7 5.8 5.3 5.2 0.9 -0.5 -18.7 21.5
Overall Growth 100.00 3.8 2.6 4.9 3.0 4.8 4.3 4.4 0.4 -6.5 -29.4 35.8

*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 100.00
May-20 109.4 82.0 57.2 102.0 113.4 96.4 117.3 150.6 107.7
Jun-20 104.3 79.6 58.1 110.6 114.6 122.3 137.8 156.2 116.3
Jul-20 100.3 83.0 61.2 114.5 119.4 141.9 126.8 166.3 122.5
Aug-20 98.2 81.2 61.0 105.9 120.8 150.7 109.1 162.7 119.7
Sep-20 105.6 78.3 57.5 106.3 113.5 149.9 126.8 166.4 121.4
Oct-20 122.4 80.9 60.6 111.5 122.8 158.4 141.3 162.2 126.7
Nov-20 137.9 78.3 58.4 126.5 118.5 156.0 132.1 144.8 127.7
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 67.4 134.4 91.3 169.6 172.1 180.0 149.2
Apr-21* 113.5 78.5 66.7 123.4 88.3 154.1 153.7 174.0 130.7
May-21* 117.0 76.8 68.7 117.7 102.5 153.5 126.7 161.6 125.8

*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 100.00
May-20 -14.0 -7.1 -16.8 -21.3 7.5 -40.4 -21.4 -14.8 -21.4
Jun-20 -15.5 -6.0 -12.0 -8.9 4.2 -23.2 -6.8 -10.0 -12.4
Jul-20 -5.7 -4.9 -10.2 -13.9 6.9 -6.5 -13.5 -2.4 -7.6
Aug-20 3.6 -6.3 -9.5 -19.1 7.3 0.5 -14.5 -1.8 -6.9
Sep-20 21.0 -6.0 -10.6 -9.5 -0.3 6.2 -3.4 4.8 0.6
Oct-20 11.7 -6.2 -8.6 -17.0 6.3 5.9 3.2 11.2 -0.5
Nov-20 3.3 -4.9 -9.3 -4.8 1.6 0.7 -7.3 3.5 -1.1
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 -7.1 27.3 32.7 22.5 11.4
Apr-21* 9.5 -2.1 25.0 30.9 3.9 472.7 582.7 38.5 60.9
May-21* 6.9 -6.3 20.1 15.3 -9.6 59.3 7.9 7.3 16.8

*Provisional, YoY is calculated over the corresponding month of previous year

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