Final growth rate of Index of Eight Major Industries for September 2022 is revised to 8.3% from its provisional level of 7.9%

The Composite Index of Eight Major Industries (ICI) increased by 7.4 percent (provisional) in December 2022 compared to the December 2021 index. Production of coal, electricity, steel, cement, fertilizers, refined products and natural gas increased in December 2022 for the corresponding month last year.
The ICI measures the combined and individual manufacturing performance of eight key industries, viz. Coal, oil, natural gas, refined products, fertilizers, steel, cement and electricity. Eight major industries account for 40.27 percent of the weight of items included in the Index of Industrial Production (IIP). Details of annual and monthly indices and growth rates are given in Annexes I and II.
Index of Eight Major Industries
The final growth rate of the Index of Eight Major Industries for September 2022 is revised to 8.3 percent from its provisional level of 7.9 percent. ICI’s cumulative growth rate during April-December 2022 was 8.0 percent (provisional) compared to the corresponding period last year.
Summary of the index of eight major industries is given below:
Coal – Coal production (weight: 10.33%) increased by 11.5% in December 2022 compared to December 2021. Its cumulative index increased by 16.4% during April to December 2022 compared to the same period of the previous year.
Crude oil – Oil production (weight: 8.98 percent) fell by 1.2 percent in December 2022 from December 2021. Its cumulative index fell by 1.3 percent during April-December 2022 from the same period of the previous year.
Natural gas – Natural gas production (weight: 6.88 percent) increased by 2.6 percent in December 2022 compared to December 2021. Its cumulative index increased by 0.9 percent between April and December 2022 compared to the same period the previous year.
Petroleum Refinery Products – Petroleum refinery output (weight: 28.04 percent) increased by 3.7 percent in December 2022 compared to December 2021. Its cumulative index increased by 5.5 percent between April and December 2022 compared to the same period the previous year.
Fertilizers – Fertilizer production (weight: 2.63 percent) increased by 7.3 percent in December 2022 compared to December 2021. Its cumulative index increased by 9.6 percent between April and December 2022 compared to the same period the previous year.
Steel – Steel production (weight: 17.92 percent) increased by 9.2 percent in December 2022 compared to December 2021. Its cumulative index increased by 7.7 percent between April and December 2022 compared to the same period the previous year.
Cement – Cement production (weight: 5.37 percent) increased by 9.1 percent in December 2022 compared to December 2021. Its cumulative index increased by 10.6 percent between April and December 2022 compared to the same period the previous year.
Electricity – Electricity production (weight: 19.85 percent) increased by 10.0 percent in December 2022 compared to December 2021. Its cumulative index increased by 9.8 percent between April and December 2022 compared to the same period of the previous year.
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