Page 16 - Policy Economic Report - August 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

INDEX OF EIGHT CORE INDUSTRIES (BASE YEAR: 2011-12=100) FOR JULY, 2025

• The combined Index of Eight Core Industries (ICI) increased by 2.0 per cent (provisional) in July,
2025 as compared to the Index in July, 2024. The production of Steel, Cement, Fertilizer and
Electricity recorded growth in July, 2025.

• 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 June 2025 was observed at 2.2 per cent.
The cumulative growth rate of ICI during April to July, 2025-26 is 1.6 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) declined by 12.3 per cent in July, 2025 over July,
2024. Its cumulative index declined by 3.1 per cent during April to July, 2025-26 over
corresponding period of the previous year.

• Crude Oil - Crude Oil production (weight: 8.98 per cent) declined by 1.3 per cent in July, 2025 over
July, 2024. Its cumulative index declined by 1.7 per cent during April to July, 2025-26 over
corresponding period of the previous year.

• Natural Gas - Natural Gas production (weight: 6.88 per cent) declined by 3.2 per cent in July, 2025
over July, 2024. Its cumulative index declined by 2.6 per cent during April to July, 2025-26 over
corresponding period of the previous year.

• Petroleum Refinery Products - Petroleum Refinery production (weight: 28.04 per cent) declined
by 1.0 per cent in July, 2025 over July, 2024. Its cumulative index declined by 0.3 per cent during
April to July, 2025-26 over corresponding period of the previous year.

• Fertilizers - Fertilizer production (weight: 2.63 per cent) increased by 2.0 per cent in July, 2025
over July, 2024. Its cumulative index declined by 2.2 per cent during April to July, 2025-26 over
corresponding period of the previous year.

• Steel - Steel production (weight: 17.92 per cent) increased by 12.8 per cent in July, 2025 over July,
2024. Its cumulative index increased by 8.5 per cent during April to July, 2025-26 over
corresponding period of the previous year.

• Cement - Cement production (weight: 5.37 per cent) increased by 11.7 per cent in July, 2025 over
July, 2024. Its cumulative index increased by 8.9 per cent during April to July, 2025-26 over
corresponding period of the previous year.

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