Core industries report 9.4% growth in July, against -7.6% in year-ago period

The ministry of commerce & industry said that the production of coal, natural gas, refinery products, fertilizers, steel, cement and electricity industries increased last month as against July 2020.

The eight core industries reported a 9.4% growth in July as compared to a -7.6% contraction during the same period a year ago, according to government data. The combined Index of Eight Core Industries (ICI) stood at 134.0 in July 2021.

The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP). (HT Photo)

The ministry of commerce & industry on Tuesday said that the production of coal, natural gas, refinery products, fertilizers, steel, cement and electricity industries increased last month as against July 2020 when the core sector was reeling under the impact of stringent nationwide lockdown.

The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP). The government has also revised the final growth rate of the Index of Eight Core Industries (ICI) for April 2021 to 62.6% from its provisional 56.1% growth rate.

Here’s how the eight core industries fared in July 2021 over July 2020:

• Coal production increased by 18.7% in July 2021 as compared to July 2020. Its cumulative index increased by 10.5% during April-July 2021 over the corresponding period of the previous year.
• Crude oil production declined by 3.2% in July 2021 over July 2020. Its cumulative index declined by 3.4 per cent from April to July for FY 2021-22 over the corresponding period of the previous year.
• Natural gas production increased by 18.9% and its cumulative index increased by 21.0% from April to July 2021 over the corresponding period of the previous year.
• Petroleum refinery production increased by 6.7% and its cumulative index increased by 13.1% from April to July 2021 over the corresponding period of the previous year.
• Fertilizers production increased by 0.5% and its cumulative index decreased by 1.1% from April to July 2021 over the corresponding period of the previous year.
• Steel production increased by 9.3 per cent and its cumulative index increased by 59.4% from April to July 2021 over the corresponding period of the previous year.
• Cement production increased by 21.8% and its cumulative index increased by 45.6% from April to July 2021 over the corresponding period of the previous year.
• Electricity generation increased by 9.0% and its cumulative index increased by 14.6% from April to July 2021-22 over the corresponding period of the previous year.