Page 20 - Policy Economic Report - April 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Index Of Eight Core Industries (BASE: 2011-12=100) for March, 2025
The combined Index of Eight Core Industries (ICI) increased by 3.8 per cent (provisional) in March, 2025
as compared to the Index in March, 2024.

The ICI measures the combined and individual performance of production of eight core industries viz.
Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core
Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production
(IIP).

The final growth rate of Index of Eight Core Industries for December 2024 was observed at 5.1 per cent.
The cumulative growth rate of ICI during April to March, 2024-25 is 4.4 per cent (provisional) as compared
to the corresponding period of last year.

The summary of the Index of Eight Core Industries is given below:

• Coal - Coal production (weight: 10.33 per cent) increased by 1.6 per cent in March, 2025 over
March, 2024. Its cumulative index increased by 5.1 per cent during April to March, 2024-25 over
corresponding period of the previous year.

• Crude Oil - Crude Oil production (weight: 8.98 per cent) declined by 1.9 per cent in March, 2025
over March, 2024. Its cumulative index declined by 2.2 per cent during April to March, 2024-25
over corresponding period of the previous year.

• Natural Gas - Natural Gas production (weight: 6.88 per cent) declined by 12.7 per cent in March,
2025 over March, 2024. Its cumulative index declined by 1.2 per cent during April to March, 2024-
25 over corresponding period of the previous year.

• Petroleum Refinery Products - Petroleum Refinery production (weight: 28.04 per cent) increased
by 0.2 per cent in March, 2025 over March, 2024. Its cumulative index increased by 2.8 per cent
during April to March, 2024-25 over corresponding period of the previous year.

• Fertilizers - Fertilizer production (weight: 2.63 per cent) increased by 8.8 per cent in March, 2025
over March, 2024. Its cumulative index increased by 2.9 per cent during April to March, 2024-25
over corresponding period of the previous year.

• Steel - Steel production (weight: 17.92 per cent) increased by 7.1 per cent in March, 2025 over
March, 2024. Its cumulative index increased by 6.7 per cent during April to March, 2024-25 over
corresponding period of the previous year.

• Cement - Cement production (weight: 5.37 per cent) increased by 11.6 per cent in March, 2025
over March, 2024. Its cumulative index increased by 6.3 per cent during April to March, 2024-25
over corresponding period of the previous year.

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