Indian Economy News

Combined Index of Eight Core Industries increases by 6.2% (provisional) in April 2024 as compared to April 2023

The combined Index of Eight Core Industries (ICI) increased by 6.2% in April 2024 compared to April 2023, with growth recorded in the production of Electricity, Natural Gas, Coal, Steel, Refinery Products, Crude Oil, and Cement. The ICI measures the combined and individual performance of these eight core industries, which comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP). The final growth rate of the ICI for January 2024 has been revised to 4.1%, and the cumulative growth rate during 2023-24 is reported at 7.6% compared to the corresponding period last year.

Breaking down the April 2024 data: Cement production (5.37% weight) rose by 0.6%, with a cumulative increase of 9.0% in 2023-24. Coal production (10.33% weight) grew by 7.5%, with an 11.8% cumulative increase. Crude Oil (8.98% weight) saw a 1.6% rise, with a 0.6% cumulative increase. Electricity generation (19.85% weight) increased by 9.4%, with a 7.1% cumulative increase. Fertilizer production (2.63% weight) declined by 0.8%, though it had a 3.7% cumulative increase. Natural Gas production (6.88% weight) rose by 8.6%, with a 6.1% cumulative increase. Petroleum Refinery Products (28.04% weight) increased by 3.9%, with a 3.6% cumulative increase. Steel production (17.92% weight) grew by 7.1%, with a 12.4% cumulative increase during 2023-24.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.