Index of Eight Core Industries Contracts 6.5% In FY21

Office of Economic Adviser, Department for Promotion of Industry and Internal Trade released Index of Eight Core Industries (ICI) for the Month of April, 2021. The combined ICI stood at 126.7 in April 2021, which increased by 56.1% (provisional) as compared to the Index of April 2020. This high growth rate in April 2021 is largely due to low Index base in April 2020 consequent to the low industrial production across all sectors caused by nationwide lockdown imposed to contain spread of Covid-19 last year. The month over month production of eight core industries, as captured by ICI, declined by 15.1% (P) in April 2021 compared to March 2021 (P) due to emergence of second wave of infectious COVID-19. Final growth rate of Index of Eight Core Industries for January 2021 is revised to 1.3% from its provisional level 0.1 %. The growth rate of ICI during April-March 2020-21 was (-) 6.5% (P) as compared to the corresponding period of last FY.

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