sourcs : DD NEWS
Combined Index of Eight Core Industries increases by 8.2 %
The combined index of eight core industries (ICI) increased by 8.2% (provisional) in June 2023 as compared to the index of June 2022. This is the highest growth rate in the index since March 2023. The production of steel, coal, cement, refinery products, natural gas, fertilizers and electricity increased in June 2023 over the corresponding month of last year.
The ICI measures the combined and individual performance of production of eight core industries, namely:
Indutry Growth Rate
Coal 9.8%
Crude Oil 1.8%
Natural Gas 1.1%
Refinery Products 10.5%
Fertilizers 4.0%
Steel 10.0%
Cement 9.9%
Electricity 1.9%
The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP). The IIP is a measure of the overall industrial activity in India.
The growth in the ICI is a positive sign for the Indian economy. It suggests that the industrial sector is recovering from the slowdown that it experienced in the first half of 2022. The government is hopeful that the growth in the ICI will continue in the coming months.
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