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Home Articles

Eight Core Industries in India 2023 – List, Weightage, Index, Growth Rate

by Maria Vincent
January 16, 2023
in Articles, General Knowledge
Eight Core Industries in India 2023 - List, Weightage, Index, Growth Rate
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Table of Contents

  • Eight Core Industries in India 2023 – Full List
  • 8 Core Industries in India Weightage
  • Annual and Monthly Growth Rate 2023
  • Index of Eight Core Industries (ICI)
  • Performance of Eight Core Index
  • Growth Rates (on a Y-o-Y basis in per cent)
  • Performance of Eight Core Industries Monthly
  •  Growth Rates (on a Y-o-Y basis in per cent)
  • Download pdf of the Index of Core Industries in India
  • Corona Virus Impact

The data on the production of eight core industries of India is published monthly by the Ministry of Commerce and Industry. The eight core industries included are- Coal, Crude oil, Natural Gas, Petroleum refinery products, Fertilizer, Cement, Steel, and Electricity generation. Check here to explore core industries meaning and what is the contribution of the core sector to the Indian economy.

The eight-core sectors of the Indian Economy are namely Electricity, Steel, Refinery products, crude oil, coal, cement, natural gas and fertilizers. These stands as the products of economical stability and standard scale for the Indian economy. They have a huge impact upon the general economic and industries activities.  Read further and discover the problems of core industries in India.

Eight Core Industries in India 2023 – Full List

The production, growth and performance of the eight core industries will be published every month by the Ministry of Commerce and Industry. These eight industries comprise 40.27% of the weight of the items included in the Index of Industrial Production. These eight industries have a together share of above 40% in the Index of Industrial Production (IIP). The IIP or Index of Industrial Production gives the growth rates of different industry groups of the economy over a specified period. Let’s know about the eight core sectors in detail. The eight-core sectors of the Indian economy are as below

  1. Electricity
  2. Steel
  3. Refinery products
  4. Crude oil
  5. Coal
  6. Cement
  7. Natural gas
  8. Fertilizers

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8 Core Industries in India Weightage

The combined Index of Eight Core Industries increased by 5.4 percent (provisional) in November 2022 compared to the Index in November 2021. Cement, coal, electricity, steel, and fertilizer production increased in November 2022 compared to the previous year. ICI measures the combined and individual performance of eight core industries: coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity. The eight core industries account for 40.27 percent of the weight of items included in the Index of Industrial Production (IIP). The weight of the different core sectors in the Index of Industrial Production is given in the table below. Here is the core industries in India weightage

Industry Weight
Coal 10.33
Electricity 19.85
Crude oil 8.98
Cement 5.37
Natural gas 6.88
Steel 17.92
Refinery products 28.04
Fertilizers 2.63
Total 100

Annual and Monthly Growth Rate 2023

The annual and Monthly growth rate of the Index of Eight Core Industries (combined) is depicted in the table:

 

 

Annual Growth Rates
Monthly Growth Rate
 

Weight

Jan-21 (F) Feb-21 (P) Mar-21 (P) Apr-21 (P) Jan-21 (F) Feb-21 (P) Mar-21 (P) Apr-21 (P)
Coal 10.3335 -1.9 -4.4 0.3 9.5 3.5 1.2 28.5 -46.0
Crude Oil 8.9833 -4.6 -3.2 -3.1 -2.1 0.7 -9.7 12.6 -4.6
Natural Gas 6.8768 -2.1 -1.0 12.3 25.0 5.2 -9.8 16.9 -1.1
Refinery Products 28.0376 -2.6 -10.9 -0.7 30.9 3.2 -12.3 17.0 -8.2
Fertilizers 2.6276 0.8 -3.7 -7.1 1.7 0.5 -11.6 -12.1 -5.3
Steel 17.9166 8.2 1.3 27.3 400.0 -1.7 -7.9 9.5 -20.7
Cement 5.372 -5.8 -5.6 32.7 548.8 4.6 -1.9 13.5 -15.2
Electricity 19.853 5.5 0.2 22.5 38.7 4.0 -6.3 17.0 -3.3
Overall Index 100 1.3 -3.8 11.4 56.1 2.3 -7.5 15.8 -15.1

Index of Eight Core Industries (ICI)

  • It is published 12 days before the IIP is published.
  • The purpose of the Index of Eight Core Industries is to give an advance hint of the product review of the industries which are of ‘core’ nature before the statement of the IIP.
  • The ICI includes the individual and collective performances of the product in these eight core industries.
  • The ICI is used by policymakers like the Ministry of Finance, other Ministries Departments.
  • Used by banks for financing support schemes and the Reserve Bank of India
  • The ICI is released every month. The index is calculated by using the Laspeyres formula
  • To calculate the ICI, the parts covered under the eight core sectors are mentioned in the table below:
    1. Coal – Coal Production
    2. Electricity – Actual Electricity Generation of Thermal, Nuclear, Hydro, imports
    3. Crude Oil – Crude Oil Production.
    4. Cement – Large Plants and Mini Plants.
    5. Natural Gas – Total Natural Gas
    6. Steel – Production of Alloy and Non-Alloy Steel
    7. Refinery Products – Total Refinery Production
    8. Fertilizer – Urea, Ammonium Sulphate, Calcium Ammonium Nitrate, Ammonium chloride, Diammonium Phosphate, Complex Grade Fertilizer and Single superphosphate.

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Performance of Eight Core Index

 

Sector

 

Weight

 

2012-13

 

2013-14

 

2014-15

 

2015-16

 

2016-17

 

2017-18

 

2018-19

 

2019-20

2020-21*

(April to March)

Coal 10.3335 103.2 104.2 112.6 118.0 121.8 124.9 134.1 133.6 131.1
Crude Oil 8.9833 99.4 99.2 98.4 97.0 94.5 93.7 89.8 84.5 80.1
Natural Gas 6.8768 85.6 74.5 70.5 67.2 66.5 68.4 69.0 65.1 59.8
Refinery Products 28.0376 107.2 108.6 108.8 114.1 119.7 125.2 129.1 129.4 114.9
Fertilizers 2.6276 96.7 98.1 99.4 106.4 106.6 106.6 107.0 109.8 111.5
Steel 17.9166 107.9 115.8 121.7 120.2 133.1 140.5 147.7 152.6 138.8
Cement 5.3720 107.5 111.5 118.1 123.5 122.0 129.7 147.0 145.7 128.3
Electricity 19.8530 104.0 110.3 126.6 133.8 141.6 149.2 156.9 158.4 157.6
Overall Index 100.00 103.8 106.5 111.7 115.1 120.5 125.7 131.2 131.6 123.0

Growth Rates (on a 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*

(April to March)

Coal 10.3335 3.2 1.0 8.0 4.8 3.2 2.6 7.4 -0.4 -1.9
Crude Oil 8.9833 -0.6 -0.2 -0.9 -1.4 -2.5 -0.9 -4.1 -5.9 -5.2
Natural Gas 6.8768 -14.4 -12.9 -5.3 -4.7 -1.0 2.9 0.8 -5.6 -8.2
Refinery Products 28.0376 7.2 1.4 0.2 4.9 4.9 4.6 3.1 0.2 -11.2
Fertilizers 2.6276 -3.3 1.5 1.3 7.0 0.2 0.03 0.3 2.7 1.5
Steel 17.9166 7.9 7.3 5.1 -1.3 10.7 5.6 5.1 3.4 -9.0
Cement 5.3720 7.5 3.7 5.9 4.6 -1.2 6.3 13.3 -0.9 -11.9
Electricity 19.8530 4.0 6.1 14.8 5.7 5.8 5.3 5.2 0.9 -0.5
Overall Growth 100.00 3.8 2.6 4.9 3.0 4.8 4.3 4.4 0.4 -6.5

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Performance of Eight Core Industries Monthly

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
Apr-20 103.7 80.2 53.3 94.2 85.0 26.9 22.5 125.6 81.2
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 57.7 114.8 103.9 154.9 151.7 153.9 128.8
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 86.4 134.5 146.0 174.1 126.7

 Growth Rates (on a 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
Apr-20 -15.5 -6.4 -19.9 -24.2 -4.5 -82.8 -85.2 -22.9 -37.9
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 1.3 -5.6 0.2 -3.8
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 1.7 400.0 548.8 38.7 56.1

Download the core industries in India PDF here and get to know the performance, growth rate and the annual growth of the eight core industries.

Download pdf of the Index of Core Industries in India

Corona Virus Impact

The production of eight core industries rose 56.1 per cent year-on-year in April 2021 on a low-base impact as industrial production was comparatively very low in the year-ago month because of a national lock down. The covid situation had its actual upon the production in the core industries, in turn, resulted in a huge impact upon the overall growth rate and performance of the economic sector

After the First wave of Corona in 2020, the industrial output decreased 15.1 per cent as opposed to March 2021 due to the development of the second wave of COVID-19, with all eight industries recording a drop in output.

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Maria Vincent

Maria Vincent

A writer with love for words and passion for learning! Sharing latest exam updates and preparation tips for the aspirants

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