Indian Economy

Status report of Indian Eight Core Industries for December 2020

Index of Eight Core Industries (Base: 2011-12=100) for December 2020

DATE: 29 JAN 2021

1- The Office of The Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing Index of Eight Core Industries for the Month of December 2020.

  1. The combined Index of Eight Core Industries stood at 133.8 in December 2020, which declined by 1.3 (provisional) per cent as compared to the Index of December, 2019.Its cumulative growth during April to December, 2020-21 has been(-) 10.1%.

3.  Final growth rate of Index of Eight Core Industries for September’2020 is revised to0.6%from its provisional level(-0.8%).The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). Details of yearly and monthly index and their growth rate is provided at annexure I & II.

4.Monthly growth rates of Index of Eight Core Industries (Overall) is depicted in the graph:

 

 

 

 

 

 

 

 

 

 

 

 

5. The summary of the Index of Eight Core Industries is given below:

Coal- Coal production (weight: 10.33per cent) increased by 2.2 per cent in December, 2020 over December,2019. Its cumulative index declined by 1.9 per cent during April to December, 2020-21over corresponding period of the previous year.

Crude Oil -Crude Oil production (weight: 8.98per cent) declined by 3.6 per cent in December 2020 over December, 2019. Its cumulative index declined by 5.7 per cent during April to December, 2020-21over the corresponding period of previous year.

Natural Gas – The Natural Gas production (weight:6.88per cent) declined by 7.2 per cent in December, 2020 over December,2019. Its cumulative index declined by 11.6 per cent during April to December 2020-21 over the corresponding period of previous year.

Petroleum Refinery Products– Petroleum Refinery production (weight:28.04per cent) declined by 2.8 per cent in December, 2020 over December,2019. Its cumulative index declined by 13.5 per cent during April to December, 2020-21over the corresponding period of previous year.

Fertilizers -Fertilizers production (weight:2.63 per cent) declined by 2.9 per cent in December,2020 over December,2019. Its cumulative index increased by 3.0 per cent during April to December, 2020-21 over the corresponding period of previous year.

Steel -Steel production (weight:17.92per cent) declined by 2.7 per cent in December, 2020 over December,2019. Its cumulative index declined by 16.7 per cent during April to December, 2020-21 over the corresponding period of previous year.

Cement -Cement production (weight:5.37per cent) declined by 9.7 per cent in December, 2020over December 2019. Its cumulative index declinedby18.3 per cent during April to December, 2020-21over the corresponding period of the previous year.

Electricity – Electricity generation (weight:19.85per cent) increased by 4.2 per cent in December,2020over December,2019. Its cumulative index declined by 3.7 per cent during April to December, 2020-21over the corresponding period of previous year.

Note 1: Data for October 2020, November, 2020and December, 2020are provisional.

Note 2: Since April, 2014, Electricity generation data from Renewable sources are also included.

Note 3: The industry-wise weights indicated above are individual industry weight derived from IIP and blown up on pro-rata basis to a combined weight of ICI equal to 100.

Note 4: Since March 2019, a new steel product called Hot Rolled Pickled and Oiled (HRPO) under the item ‘Cold Rolled (CR) coils’ within the production of finished steel has also been included.

 

Annexure- I

Performance of Eight Core Industries

Yearly Index & Growth Rate

Base Year: 2011-12=100

 

Index

Sector Weight 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 Apr- Dec  2019-20 Apr- Dec  2020-21*
Coal 10.3335 103.2 104.2 112.6 118.0 121.8 124.9 134.1 133.6 117.5 115.4
Crude Oil 8.9833 99.4 99.2 98.4 97.0 94.5 93.7 89.8 84.5 85.3 80.4
Natural Gas 6.8768 85.6 74.5 70.5 67.2 66.5 68.4 69.0 65.1 66.4 58.7
Refinery Products 28.0376 107.2 108.6 108.8 114.1 119.7 125.2 129.1 129.4 128.3 110.9
Fertilizers 2.6276 96.7 98.1 99.4 106.4 106.6 106.6 107.0 109.8 110.6 113.9
Steel 17.9166 107.9 115.8 121.7 120.2 133.1 140.5 147.7 152.6 154.4 128.7
Cement 5.3720 107.5 111.5 118.1 123.5 122.0 129.7 147.0 145.7 143.7 117.5
Electricity 19.8530 104.0 110.3 126.6 133.8 141.6 149.2 156.9 158.4 160.5 154.6
Overall Index 100.0000 103.8 106.5 111.7 115.1 120.5 125.7 131.2 131.6 130.5 117.3

*provisional

Growth Rates (in percent)

Sector Weight 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 Apr- Dec  2019-20 Apr- Dec  2020-21*
Coal 10.3335 3.2 1.0 8.0 4.8 3.2 2.6 7.4 -0.4 -3.9 -1.9
Crude Oil 8.9833 -0.6 -0.2 -0.9 -1.4 -2.5 -0.9 -4.1 -5.9 -6.0 -5.7
Natural Gas 6.8768 -14.4 -12.9 -5.3 -4.7 -1.0 2.9 0.8 -5.6 -3.8 -11.6
Refinery Products 28.0376 7.2 1.4 0.2 4.9 4.9 4.6 3.1 0.2 -0.6 -13.5
Fertilizers 2.6276 -3.3 1.5 1.3 7.0 0.2 0.03 0.3 2.7 4.7 3.0
Steel 17.9166 7.9 7.3 5.1 -1.3 10.7 5.6 5.1 3.4 6.9 -16.7
Cement 5.3720 7.5 3.7 5.9 4.6 -1.2 6.3 13.3 -0.9 0.7 -18.3
Electricity 19.8530 4.0 6.1 14.8 5.7 5.8 5.3 5.2 0.9 0.7 -3.7
Overall Growth 100.0000 3.8 2.6 4.9 3.0 4.8 4.3 4.4 0.4 0.6 -10.1

*provisional

 

Annexure-II

Performance of Eight Core Industries

MonthlyIndex & Growth Rate

Base Year: 2011-12=100

Index

Sector Coal Crude Oil Natural Gas Refinery Products Fertilizers Steel Cement Electricity Overall Index
Weight 10.3335 8.9833 6.8768 28.0376 2.6276 17.9166 5.3720 19.8530 100.0000
Dec-19 152.9 83.5 65.5 130.5 120.5 165.2 159.2 150.2 135.5
Jan-20 164.7 85.0 65.3 134.4 116.5 155.4 164.1 155.6 137.4
Feb-20 171.1 75.6 58.3 128.9 107.8 152.9 160.7 153.6 134.0
Mar-20 209.7 85.0 60.1 135.3 98.3 133.2 129.8 146.9 134.0
Apr-20 103.7 80.2 53.3 94.2 85.0 26.9 22.5 125.6 81.2
May-20 109.4 82.0 57.2 102.0 113.4 96.4 117.3 150.6 107.7
Jun-20 104.3 79.6 58.1 110.6 114.6 122.3 137.8 156.2 116.3
Jul-20 100.3 83.0 61.2 114.5 119.4 141.9 126.8 166.3 122.5
Aug-20 98.2 81.2 61.0 105.9 120.8 150.7 109.1 162.7 119.7
Sep-20 105.6 78.3 57.5 106.3 113.5 149.9 126.8 166.4 121.4
Oct-20* 122.4 80.9 60.6 111.5 122.8 155.5 141.3 162.2 126.2
Nov-20* 137.9 78.3 58.4 126.5 118.5 154.1 132.1 144.8 127.4
Dec-20* 156.2 80.5 60.8 126.9 117.0 160.7 143.7 156.5 133.8

*provisional

Growth Rates (in per cent)

Sector Coal Crude Oil Natural Gas Refinery Products Fertilizers Steel Cement Electricity Overall Growth
Weight 10.3335 8.9833 6.8768 28.0376 2.6276 17.9166 5.3720 19.8530 100.0000
Dec-19 6.1 -7.4 -9.2 3.0 10.2 8.7 5.5 -0.02 3.1
Jan-20 8.0 -5.3 -9.0 1.9 -0.1 1.6 5.1 3.2 2.2
Feb-20 11.3 -6.4 -9.6 7.4 2.9 2.9 7.8 11.5 6.4
Mar-20 4.0 -5.5 -15.1 -0.5 -11.9 -21.9 -25.1 -8.2 -8.6
Apr-20 -15.5 -6.4 -19.9 -24.2 -4.5 -82.8 -85.2 -22.9 -37.9
May-20 -14.0 -7.1 -16.8 -21.3 7.5 -40.4 -21.4 -14.8 -21.4
Jun-20 -15.5 -6.0 -12.0 -8.9 4.2 -23.2 -6.8 -10.0 -12.4
Jul-20 -5.7 -4.9 -10.2 -13.9 6.9 -6.5 -13.5 -2.4 -7.6
Aug-20 3.6 -6.3 -9.5 -19.1 7.3 0.5 -14.5 -1.8 -6.9
Sep-20 21.0 -6.0 -10.6 -9.5 -0.3 6.2 -3.4 4.8 0.6
Oct-20* 11.7 -6.2 -8.6 -17.0 6.3 4.0 3.2 11.2 -0.9
Nov-20* 3.3 -4.9 -9.3 -4.8 1.6 -0.5 -7.3 3.5 -1.4
Dec-20* 2.2 -3.6 -7.2 -2.8 -2.9 -2.7 -9.7 4.2 -1.3

*provisional

SOURCE: Ministry of Commerce & Industry Govt of India