Industrial growth in India is measured by growth in eight core industries index. Index of Eight Core Industries (ICI) basically measures the combined and individual performances of production in selected eight core industries: Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. Overall, the eight industries mentioned above comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (ICI). The Index is compiled and released by Office of the Economic Adviser (OEA), Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry, Government of India, on last working day of every month at 5.00 P.M.
The combined Index of Eight Core Industries stood at 131.7 in November 2021, which increased by 3.1 per cent (provisional) as compared to the Index of November 2020. The production of Coal, Natural Gas, Refinery Products, Fertilizers, Steel and Electricity industries increased in November 2021 over the corresponding period of last year. Index of Eight Core Industries (ICI) for the Month of September 2021 stood at 126.7. The September number marks a 4.4 per cent rise as compared to the Index of September 2020. The core industries grew by 11.6 per cent in September 2021 against o.5 the previous year same month. Barring crude oil, the production of natural gas, fertiliser, electricity, cement, refinery products, and steel all increased in September 2021 in comparison to September 2020. In September 2021, Crude oil production declined by 1.7 per cent over September, 2020. On the other hand, the cement, steel, and natural gas production increased by 3.8 per cent, 10.7 per cent and 27.5 per cent respectively.