The index of eight core industries rose by 8.2 percent in June 2023 as against June 2022, as except for crude oil, all seven industries witnessed a rise during the period under review. The production of all other industries, namely, steel, coal, cement, refinery products, natural gas, fertilizers, and electricity, went up in June 2023, according to data released by the Commerce Ministry.

The eight core industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP). The government revised the final growth rate of the index of eight core industries for March 2023 to 4.2 percent from its provisional level of 3.6 percent. Coal production rose by 9.8 percent in June 2023 year-on-year (YoY). Its cumulative index increased by 8.7 percent during the quarter from April to June 2023-24 over the corresponding period of the previous year.

Crude oil production fell by 0.6 percent in June 2023 on a YoY basis. Natural gas production rose 3.6 percent in June YoY. Petroleum refinery production went up by 4.6 percent in June on a YoY basis. Fertilizer production increased by 3.4 percent, steel output went up by 21.9 percent, cement production increased by 9.4 percent, and electricity generation went up by 3.3 percent in June 2023 over the corresponding period.