India’s Core Industries See Mixed Growth in August 2024
In August 2024, the combined Index of Eight Core Industries (ICI) in India declined by 1.8% compared to the same month last year. This index measures the performance of eight key industries, which together make up 40.27% of the Index of Industrial Production (IIP).
Performance of Individual Industries
| Industry | Weight | August 2024 Growth | Cumulative Growth (April-August 2024-25) |
|---|---|---|---|
| Coal | 10.33% | -8.1% | 6.5% |
| Crude Oil | 8.98% | -3.4% | -1.7% |
| Natural Gas | 6.88% | -3.6% | 2.6% |
| Petroleum Refinery Products | 28.04% | -1.0% | 1.7% |
| Fertilizers | 2.63% | 3.2% | 1.7% |
| Steel | 17.92% | 4.5% | 7.3% |
| Cement | 5.37% | -3.0% | 0.7% |
| Electricity | 19.85% | -5.0% | 6.8% |
Overall, the cumulative growth rate of the Index of Eight Core Industries from April to August 2024-25 was 4.6% compared to the same period last year.
Doubts Revealed
Core Industries -: Core industries are the main industries that are very important for the economy. In India, there are eight such industries: coal, crude oil, natural gas, petroleum refinery products, fertilizers, steel, cement, and electricity.
Index of Eight Core Industries -: This is a measure that shows how well the eight main industries in India are doing. It helps understand the health of the economy.
Negative Growth -: Negative growth means that the production or output of an industry has decreased compared to a previous time period.
Cumulative Growth Rate -: This is the total growth rate over a period of time. In this case, it is from April to August 2024-25.
Index of Industrial Production -: This is a measure that shows the overall production of industries in India. The eight core industries make up a big part of this index.