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. 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 Index of Industrial Production (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?

• India’s core sector output expanded 8.4% in April, the fastest pace in six months, with crude oil and steel the only sectors among the eight infrastructure industries comprising the index to record a marginal decline in production from the year-earlier period.
• However, on a sequential basis, the Index of Eight Core Industries (ICI), declined 9.5% last month from March 2022 levels.

Reference:

https://www.thehindu.com/business/Economy/core-sector-output-grew-84-in-april/article65481024.ece