Index of Eight Core Industries

In News 

The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade released Index of Eight Core Industries (ICI) for the Month of August, 2021. 

About 

• The combined Index of Eight Core Industries stood at 133.5 in August 2021, which increased by11.6 percent (provisional) as compared to the Index of August 2020.
•  The production of Coal, Natural Gas, Refinery Products, Steel, Cement and Electricity industries increased in August 2021 over the corresponding period of last year.

About  Index of Eight Core Industries

• The Index of Eight Core Industries captures the output of coal, crude oil, natural gas, steel, cement, fertilisers, electricity, and refinery products. 
  • These core industries are considered as main or key industries of the economy and serve as the backbone of all other industries.
• The index has a 40.27% weight in the Index of Industrial Production (IIP), suggesting a sharp contraction in that indicator.
• The base year of the index has been revised to 2011-12 from 2004-05 in alignment with the new series of IIP.

Source:BS