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INDEX OF EIGHT CORE INDUSTRIES (BASE: 2011-12=100) FOR MARCH, 2021

INDEX OF EIGHT CORE INDUSTRIES (BASE: 2011-12=100) FOR MARCH, 2021 1

The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing Index of Eight Core Industries for the Month of March, 2021.

            The combined Index of Eight Core Industries stood at 143.1 in March, 2021, which increased by 6.8 (provisional) per cent as compared to the Index of March, 2020. Its cumulative growth during April to March, 2020-21 has been (-) 7.0%.

            Final growth rate of Index of Eight Core Industries for December 2020 is revised to 0.4% from its provisional level (-) 1.3%. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). Details of yearly and monthly index and their growth rate are provided at Annexure I & II.

            Monthly growth rate of Index of Eight Core Industries (Overall) is depicted in the graph: 

*Provisional

      The summary of the Index of Eight Core Industries is given below:

Coal – Coal production (weight: 10.33 per cent) declined by 21.9 per cent in March, 2021 over March, 2020. Its cumulative index declined by 4.8 per cent during April to March, 2020-21 over corresponding period of the previous year.

Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 3.1 per cent in March, 2021 over March, 2020. Its cumulative index declined by 5.2 per cent during April to March, 2020-21 over the corresponding period of previous year.

Natural Gas – The Natural Gas production (weight: 6.88 per cent) increased by 12.3 per cent in March, 2021 over March, 2020. Its cumulative index declined by 8.2 per cent during April to March, 2020-21 over the corresponding period of previous year.

Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) declined by 0.7 per cent in March, 2021 over March, 2020. Its cumulative index declined by 11.2 per cent during April to March, 2020-21 over the corresponding period of previous year.

Fertilizers – Fertilizers production (weight: 2.63 per cent) declined by 5.0 per cent in March, 2021 over March, 2020. Its cumulative index increased by 1.8 per cent during April to March, 2020-21 over the corresponding period of previous year.

Steel – Steel production (weight: 17.92 per cent) increased by 23.0 per cent in March, 2021 over March, 2020. Its cumulative index declined by 9.5 per cent during April to March, 2020-21 over the corresponding period of previous year.

Cement – Cement production (weight: 5.37 per cent) increased by 32.5 per cent in March, 2021 over March, 2020. Its cumulative index declined by 11.9 per cent during April to March, 2020-21 over the corresponding period of previous year.

Electricity – Electricity generation (weight: 19.85 per cent) increased by 21.6 per cent in March, 2021 over March, 2020. Its cumulative index declined by 0.6 per cent during April to March, 2020-21 over the corresponding period of previous year.

Note 1: Data for January, 2021, February, 2021 and March, 2021 are provisional.

Note 2: Since April, 2014, Electricity generation data from Renewable sources are also included.

Note 3: The industry-wise weights indicated above are individual industry weight derived from IIP and blown up on pro rata basis to a combined weight of ICI equal to 100.

Note 4: Since March 2019, a new steel product called Hot Rolled Pickled and Oiled (HRPO) under the item ‘Cold Rolled (CR) coils’ within the production of finished steel has also been included.

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