Ministry of Commerce & Industry Releases June 2024 Core Industries Index

The combined Index of Eight Core Industries (ICI) increased by 4.0per cent (provisional) in June, 2024 as compared to the Index in June, 2023. The production of Coal, Electricity, Natural Gas, Steel, Fertilizer sand Cement recorded positive growth in June 2024. The details of annual indices, monthly indices and growth rates are provided at Annex I and Annex II.

The ICI measures the combined and individual performance of production of eight core industries viz. Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

The final growth rate of Index of Eight Core Industries for March2024 stands at 6.3per cent. The cumulative growth rate of ICI during April to June, 2024-25 was5.7per cent (provisional) as compared to the corresponding period of last year.

The summary of the Index of Eight Core Industries is given below:

Cement – Cement production (weight: 5.37 per cent) increased by 1.9 per cent in June, 2024 over June, 2023. Its cumulative index increased by 0.3 per cent during April to June, 2024-25 over corresponding period of the previous year.

Coal – Coal production (weight: 10.33 per cent) increased by 14.8 per cent in June, 2024 over June, 2023. Its cumulative index increased by 10.8 per cent during April to June, 2024-25 over corresponding period of the previous year.

Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 2.6 per cent in June, 2024 over June, 2023. Its cumulative index declined by 0.7 per cent during April-June, 2024-25 over corresponding period of the previous year.

Electricity – Electricity generation (weight: 19.85 per cent) increased by 7.7 per cent in June, 2024 over June, 2023. Its cumulative index increased by 10.5 per cent during April to June, 2024-25 over corresponding period of the previous year.

Fertilizers – Fertilizer production (weight: 2.63 per cent) increased by 2.4 per cent in June, 2024 over June, 2023. Its cumulative index remained constant during April to June, 2024-25 over corresponding period of the previous year.

Natural Gas – Natural Gas production (weight: 6.88 per cent) increased by 3.3 per cent in June, 2024 over June, 2023. Its cumulative index increased by 6.4 per cent during April to June, 2024-25 over corresponding period of the previous year.

Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) declined by 1.5 per cent in June, 2024 over June, 2023. Its cumulative index increased by 0.9 per cent during April to June, 2024-25 over corresponding period of the previous year.

Steel – Steel production (weight: 17.92 per cent) increased by 2.7 per cent in June, 2024 over June, 2023. Its cumulative index increased by 6.1 per cent during April to June, 2024-25 over corresponding period of the previous year.

Note 1: Data forApril, 2024, May, 2024 and June, 2024are provisional. Index numbers of Core Industries are revised/finalized as per updated data from source agencies.

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 weights 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 July, 2024 will be on Friday30^th August, 2024.

Annex I

Performance of Eight Core Industries

Yearly Index & Growth Rate

Base Year: 2011-12=100

Index