Index of Eight Core Industries (ICI) posted robust growth of 18.1 per cent in May this year against 16.4 per cent in the corresponding month of previous year.
According to the Commerce and Industry Ministry data released today, the growth can be attributed to increased production in cement, coal, fertilizers and electricity industries over the same period of last fiscal. In April this year, eight core sectors logged growth of 8.4 per cent.
In the reported period of May 2022, the cement industry recorded the highest growth of 26.3 per cent. Coal sector jumped 25.1 per cent. Fertilizer climbed 22.8 per cent, electricity grew 22 per cent and natural witnessed growth of seven per cent.
ICI measures combined and individual performance of production in selected eight core industries Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
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