Index of Eight Core Industries grew 4.3% in March, increases 10.4 % during 2021-22 FY: Govt data

Index of Eight Core Industries grew 4.3% in March, increases 10.4 % during 2021-22 FY: Govt data

mygov.in

Index of Eight Core Industries (ICI) posted robust growth of 10.4 percent during 2021-22 fiscal as compared to the corresponding period of the previous Financial Year. According to the Ministry of Commerce & Industry data released today, the combined Index of Eight Core Industries grew 4.3 percent in March this year as compared to the Index of March 2021.

The growth in the production of natural gas stood at 7.6 percent, steel index appreciated 3.7 percent, cement index grew 8.8 percent and electricity stood at 4.9 percent during the month of March 2022. Refinery Products grew 6.2 percent and fertilizers output grew by 15.3 percent in March this year.

As per the Office of Economic Adviser, Department for Promotion of Industry and Internal Trade data, final growth rate of the Index of Eight Core Industries for December 2021 has been revised to 4.1 percent from its provisional level of 3.8 percent.

ICI measures combined and individual performance of production in selected eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement, and Electricity. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).