ABOUT Index of Eight Core industries:

  • The Index is released by The Office of economic adviser, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
  • It is a broad indicator used for measuring the growth rate of industry groups.
  • Department of Industrial Policy and Promotion (DIPP) is the biggest source of data used for the calculation of this indicator.
  • Base Year for Index of eight core industries is 2011-2012.
  • The Eight Core Industries comprises 40.27% of the weight of items included in the Index of Industrial Production (IIP) viz,
  • Petroleum and Refinery Products-28.04
  • Electricity-19.85 %
  • Steel-17.92 %
  • Coal-0.33 %
  • Crude Oil-8.98 %
  • Natural Gas-6.88 %
  • Cement-5.37 %
  • Fertilizers-2.63 %
  • The Index of Eight Core Industries signifies the total production volume in the eight important industries.
  • The growth of the country’s economy largely depends on the growth of these eight industries.
  • It is also used by government and other agencies including the RBI etc for policy-making purposes.
SYLLABUS: Prelims, Indian economy