Eight core industries grow 18.1% in May vs 9.3% April
STORIES, ANALYSES, EXPERT VIEWS
India's combined index of eight core industries saw a huge jump in the month of May as it grew by 18.1 per cent, compared to 9.3 per cent in April 2022, driven by steel, cement, and natural gas, according to the data released by Ministry of Commerce & Industry Thursday. The production of cement, coal, fertilizers and electricity industries recorded high growth in may 2022 over the corresponding period of last year, the data added.
The eight core sectors measured in the index are - Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement, and Electricity. The sectors comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
Coal –Coal production (weight: 10.33 per cent) increased by 25.1 per cent in May, 2022 over May, 2021. Its cumulative index increased by 26.9 per cent during April to May, 2022-23 over corresponding period of the previous year.
Crude Oil–Crude Oil production (weight: 8.98 per cent) increased by 4.6 per cent in May, 2022 over May, 2021. Its cumulative index increased by 1.8 per cent during April to May, 2022-23 over the corresponding period of previous year.
Natural Gas - Natural Gas production (weight: 6.88 per cent) increased by 7.0 per cent in May, 2022 over May, 2021. Its cumulative index increased by 6.7 per cent during April to May, 2022-23 over the corresponding period of previous year.
Petroleum Refinery Products–Petroleum Refinery production (weight: 28.04 per cent) increased by 16.7 per cent in May, 2022 over May, 2021. Its cumulative index increased by 12.8 per cent during April to May, 2022-23 over the corresponding period of previous year.
Fertilizers –Fertilizers production (weight: 2.63 per cent) increased by 22.8 per cent in May, 2022 over May, 2021. Its cumulative index increased by 16.3 per cent during April to May, 2022-23 over the corresponding period of previous year.
Steel –Steel production (weight: 17.92 per cent) increased by 15.0 per cent in May, 2022 over May, 2021. Its cumulative index increased by 8.4 per cent during April to May, 2022-23 over the corresponding period of previous year.
Cement –Cement production (weight: 5.37 per cent) increased by 26.3 per cent in May, 2022 over May, 2021. Its cumulative index increased by 15.9 per cent during April to May, 2022-23 over the corresponding period of previous year.
Electricity –Electricity generation (weight: 19.85 per cent) increased by 22.0 per cent in May, 2022 over May, 2021. Its cumulative index increased by 16.7 per cent during April to May, 2022-23 over the corresponding period of previous year.
