New Delhi: The combined Index of Eight Core Industries (ICI) increased by 3.6% in March 2023. This growth is the slowest in five months. As per government data, the output of core sectors had increased by 7.2% in February 2023 and 4.8% in the year-ago month. The previous low was 0.7% in October 2022.
The production of Coal, Fertilizers, Steel, Natural Gas, and Refinery Products increased in March 2023 over the corresponding month of last year. Coal production recorded an increase of 12.2%, fertilisers 9.7%, steel 8.8%, natural gas 2.8% and refinery products 1.5%. The output of crude oil declined by 2.8%, power by 1.8% and cement by 0.8% in March this year.
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The eight core infrastructure sectors are coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity. The ICI is calculated after considering the combined and individual performance of production in these 8 core industries. The 8 Core Industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
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