How Did the Eight Core Industries Perform in May?
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Synopsis
Discover the latest trends in India's core industries with a notable 0.7 percent growth in May. This report highlights the performance of key sectors like cement, steel, and coal, revealing insights into the country's economic recovery.
Key Takeaways
- 0.7 percent growth in ICI for May compared to last year.
- Steel production increased by 6.7 percent.
- Cement production rose by 9.2 percent.
- Coal production growth at 2.8 percent.
- Electricity generation declined by 5.8 percent.
New Delhi, June 20 (NationPress) The overall Index of Eight Core Industries (ICI) saw a growth of 0.7 percent in May compared to the same month last year, according to data released by the Ministry of Commerce and Industry on Friday.
Positive growth was recorded in the production of cement, steel, coal, and refinery products last month.
The ministry noted that the final growth rates for the ICI in February, March, and April were 3.4, 4.5, and 1.0 percent respectively.
For the period of April to May 2025-26, the provisional cumulative growth rate of the ICI was 0.8 percent compared to the same timeframe last year.
In May, coal production rose by 2.8 percent year-on-year. Its cumulative index grew by 3.1 percent during April to May 2025-26 compared to the previous year.
Petroleum refinery production experienced a rise of 1.1 percent in May, although its cumulative index fell by 1.7 percent during the same period.
Steel production surged by 6.7 percent, with a cumulative index increase of 5.5 percent for the April to May period.
Cement production also witnessed a significant rise of 9.2 percent in May, with a cumulative index growth of 7.8 percent during April to May.
Conversely, electricity generation saw a decline of 5.8 percent in May, with a cumulative index drop of 2.2 percent for the April to May duration.
The ICI gauges the combined output and individual performance of eight core industries: coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity.
These Eight Core Industries account for 40.27 percent of the weighted items in the Index of Industrial Production (IIP), as reported by the ministry.
Point of View
I see the modest growth of 0.7 percent in the Eight Core Industries as a sign of resilience amidst economic challenges. This performance reflects ongoing recovery efforts and signals potential growth ahead, emphasizing the importance of monitoring these sectors for informed economic decisions.
NationPress
20/06/2025
Frequently Asked Questions
What is the Index of Eight Core Industries?
The Index of Eight Core Industries (ICI) measures the collective performance of key sectors including coal, crude oil, and steel, providing insights into the overall industrial growth.
How much did steel production grow in May?
Steel production saw an impressive growth of 6.7 percent in May compared to the previous year.
Did electricity generation decline in May?
Yes, electricity generation declined by 5.8 percent in May, reflecting challenges in this sector.
What does the ICI indicate about the economy?
The ICI serves as a crucial indicator of economic health, reflecting the performance of vital industries that significantly contribute to India’s industrial output.
What are the major sectors included in the ICI?
The major sectors included in the ICI are coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity.
