- 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 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 combined Index of Eight Core Industries (ICI) increased by 3.6 per cent (provisional) in March 2023 as compared to the Index of March 2022.