Core Industries data for July 2020

The combined Index of Eight Core Industries stood at 119.9 in July, 2020, which declined by 9.6 % (provisional) as compared to the Index of July 2019.

 

Its cumulative growth from April to July 2020-21 was -20.5%.

 

The final growth rate of Index of Eight Core Industries for April 2020 is revised at -37.9%. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

 

Monthly Index movements are shown in the below chart :

 

 

Summary of the Eight Industries is given below

1. Coal (weight 10.33%): Coal production declined by 5.7% in July 20 compared to July 19. Cumulative Index decline from April to July 20 is 12.9% compared to last year, which is significantly high
2. Crude Oil (weight 8.98%): Crude Oil production declined by 4.9% in July 20 compared to July 19 & a decline of 6.1% during April-july20 compared to the previous year.
3. Natural Gas (weight 6.88%): Natural Gas production declined by 10.2% in July 20 compared to July 19 & a decline of 14.7% during April-july20 compared to the previous year.
4. Refinery Products (weight 28.04%): Petroleum Refinery Production declined by 13.9% in July 20 compared to July 19 & a decline of 17.1% during April-july20 compared to the previous year.
5. Fertilizers (weight 2.63%): Fertilizer Production increased by 6.9% in July 20 compared to July 19 & an increase of 3.9% during April-july20 compared to the previous year.
6. Steel (weight 17.92%): Steel Production declined by 16.4% in July 20 compared to July 19 & a decline of 42% during April-july20 compared to the previous year.
7. Cement (weight 5.37%): Cement Production declined by 13.5% in July 20 compared to July 19 & a decline of 32.2% during April-july20 compared to the previous year.
8. Electricity Generation (weight 19.85%): Electricity Generation declined by 2.3% in July 20 compared to July 19 & a decline of 12.4% during April-july20 compared to the previous year.

 

The only green spike was seen in the production of fertilizer which in fact has a very low weightage in the index.

 

The Index of Eight Core Industries is a monthly production index released by CSO and is considered to be the lead indicator of the monthly industrial performance in India

 

The production figures show an improvement on a month to month basis as the country and the globe restores its operations post COVID scenario. The figures may improve further in months to come.