India’s core sector output accelerated for a second straight month in August 2021, rising 11.6 per cent, buoyed in part by the year-earlier month’s 6.9 per cent contraction.
- The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade releases Index of Eight Core Industries (ICI).
What is Core Sector in India?
- In India, there are eight sectors that are considered the core sectors. The eight-core sectors of the Indian economy are electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilizers.
- These core sectors have a major impact on the Indian economy and significantly affect most other industries as well.
- The eight industries have a combined share of 40.27 per cent in the Index of Industrial Production (IIP), which gives the growth rates of different industry groups in a specified period.
- With 28.0376, the refineries products have the highest weightage in the Core Index, followed by Electricity (19.853), Steel (17.9166), Coal (10.3335), Crude oil (8.9833), Natural gas (6.8768).
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