India's Core Sector Growth Slows Down To 6-Month Low Of 3.5 Per Cent In April

The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production

The production growth of India's eight key infrastructure sectors slowed down to a six-month low of 3.5 per cent in April 2023 because of a decline in the output of crude oil, natural gas, refinery products, and electricity. In April last year, the core sector growth recorded 9.5 per cent, while in March 2023 the key infra sectors clocked a growth rate of 3.6 per cent.

The growth rate in April 2023 is the lowest since October 2022 when the sectors expanded by 0.7 per cent.

According to the release, coal production growth declined to 9 per cent in April this year, according to the official data released on Wednesday. Fertiliser production soared by 23.5 per cent, steel by 12.1 per cent and cement output by 11.6 per cent in April, the data showed. 

The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). 

Final growth rate of Index of Eight Core Industries for January 2023 is recorded 9.7 per cent. The cumulative growth rate of ICI during 2022-23 reported 7.7 per cent (provisional) as compared to the corresponding period of last year.

Coal: Coal production (weight: 10.33 per cent) increased by 9.0 per cent in April, 2023 over April, 2022. Its cumulative index increased by 14.9 per cent during 2022-23 over corresponding period of the previous year.

Crude Oil: Crude Oil production (weight: 8.98 per cent) declined by 3.5 per cent in April, 2023 over April, 2022. Its cumulative index declined by 1.7 per cent during 2022-23 over the corresponding period of previous year.

Natural Gas: Natural Gas production (weight: 6.88 per cent) declined by 2.8 per cent in April, 2023 over April, 2022. Its cumulative index increased by 1.6 per cent during 2022-23 over the corresponding period of previous year.

Petroleum Refinery Products: Petroleum Refinery production (weight: 28.04 per cent) declined by 1.5 per cent in April, 2023 over April, 2022. Its cumulative index increased by 4.8 per cent during 2022-23 over the corresponding period of previous year.

Fertilizers: Fertilizers production (weight: 2.63 per cent) increased by 23.5 per cent in April, 2023 over April, 2022. Its cumulative index increased by 11.3 per cent during 2022-23 over the corresponding period of previous year.

Steel: Steel production (weight: 17.92 per cent) increased by 12.1 per cent in April, 2023 over April, 2022. Its cumulative index increased by 8.9 per cent during 2022-23 over the corresponding period of previous year.

Cement: Cement production (weight: 5.37 per cent) increased by 11.6 per cent in April, 2023 over April, 2022. Its cumulative index increased by 8.7 per cent during 2022-23 over the corresponding period of previous year.

Electricity: Electricity generation (weight: 19.85 per cent) declined by 1.4 per cent in April, 2023 over April, 2022. Its cumulative index increased by 8.9 per cent during 2022-23 over the corresponding period of previous year.