Index of Eight Core Industries
About ICI
- The Index of Eight Core Industries (ICI) is a production volume index published on a monthly basis.
- ICI measures combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.
- These industries are likely to impact on general economic activities as well as industrial activities.
- The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
- IIP is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period.
- 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 Adviser, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.
- The base year of the ICI is 2011-12.
Why in News?
- The index of eight core industries fell by 1.8% in August compared with a 6.1% gain in July.
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