The combined index of eight core industries registered a growth of 8.2 per cent (provision) in June 2023 over June 2022.
The Index of Eight Core Industries (ICI) is a production volume index that measures the performance of eight important industries in India. These industries include Natural Gas, Coal, Refinery Products, Crude Oil, Cement, Electricity, Steel, and Fertilizers.
The Office of the Economic Adviser (OEA), which is part of the Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce and Industry, compiles and releases this index regularly. It helps track the collective and individual production performances of these core industries, providing valuable insights into the country's economic growth and industrial output.
The Index of Industrial Production (IIP) :
The Index of Industrial Production (IIP) is a crucial indicator that tracks the fluctuations in the volume of industrial production over a specific period.
Published on a monthly basis, it is compiled by the Central Statistical Organization (CSO), which operates under the Ministry of Statistics and Programme Implementation.
The IIP serves as a composite indicator, measuring the growth rates of different industry groups.
The base year for calculating the IIP is set at 2011-2012.