About ICI 

• The monthly Index of Eight Core Industries (ICI) is a production volume index.
• The objective of the ICI is to provide an advance indication on production performance of industries of ‘core’ nature before the release of Index of Industrial Production (IIP).
• These industries are likely to impact on general economic activities as well as industrial activities. 
• The Eight Core Industries- Electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilizers- comprise 40.27 per cent of the weight of items included in the IIP. 
• Industry Weight (In percentage)
  • Petroleum & Refinery production – 28.04 
  • Electricity generation – 19.85 
  • Steel production – 17.92 
  • Coal production – 10.33 
  • Crude Oil production – 8.98 
  • Natural Gas production – 6.88 
  • Cement production – 5.37 
  • Fertilizers production – 2.63

• ICI is released by the Office of Economic Advisor, under the Ministry of Commerce and Industries. The base year of the ICI is 2011-12.

Why in News?

• According to the latest official data, output from India’s eight core sectors contracted 1.3% in December 2020, with electricity and coal the only two sectors recording positive growth.
• This is the third month in a row that core sectors’ output declined.

Reference:

1. https://www.thehindu.com/business/Economy/core-sector-output-shrank-13-in-dec/article33698910.ece