The combined Index of Eight Core Industries increased by 3.8% in December 2023 as compared to the Index of December 2022, data released by the Ministry of Commerce & Industry said on Wednesday.

In November, the index of eight core industries was 7.9%.

The production of Coal, Natural Gas, Steel, Fertilisers, Refinery Products, Cement and Electricity recorded positive growth in December 2023.

Coal production increased by 10.6% in December 2023 over December 2022. Its cumulative index increased by 12.5% from April to December 2023-24 over the corresponding period of the previous year.

Natural Gas production increased by 6.6% in December 2023 over December 2022. Its cumulative index increased by 5.6% from April to December 2023-24 over the corresponding period of the previous year.

Steel production spiked by 5.9% in December 2023 over December 2022. Its cumulative index increased by 13.3% from April to December 2023-24 over the corresponding period of the previous year.

Fertiliser production increased by 5.8% in December 2023 over December 2022. Its cumulative index increased by 6.2% from April to December 2023-24 over the corresponding period of the previous year.

Electricity generation increased by 0.6 per cent in December 2023 over December 2022. Its cumulative index increased by 6.9% from April to December 2023-24 over the corresponding period of the previous year.

The cement production increased by 1.3% in December 2023 over December 2022, and its cumulative index increased by 9.2% from April to December 2023-24 over the corresponding period of the previous year.

The final growth rate of the Index of Eight Core Industries for September 2023 is revised to 9.4%. The cumulative growth rate of ICI from April to December 2023-24 is 8.1% as compared to the corresponding period of last year.

The ICI measures combined and individual performance of the production of eight core industries, viz. Cement, Coal, Crude Oil, Electricity, Fertilisers, Natural Gas, Refinery Products and Steel.

The Eight Core Industries comprise 40.27% of the weight of items included in the Index of Industrial Production.