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For All Defence Aspirants 8 Core Sectors Of Indian Economy -NCA ACADEMY

For All Defence Aspirants 8 Core Sectors Of Indian Economy -NCA ACADEMY

Core Sectors Of Indian Economy

 

Core Sector Can Be Defined As The Main Industry Which Has A Multiplier Effect On The Economy.

In Most Countries, There Is A Particular Industry That Seems To Be The Backbone Of All Other Industries And That Qualifies To Be The Core Industry.

The Eight Core Industries In India Comprise 40.27 % Of The Weight Of Items Included In The Index Of Industrial Production (IIP). It Is A Lead Indicator Of Corporate Earnings As IIP Numbers Measure Production And This Translates Into Sales And Revenues For Companies.

The IIP Index Is Computed And Published By The Central Statistical Organization (CSO) On A Monthly Basis.

Recently, The Government Has Announced That The Base Year Will Be Further Revised To 2017-18 From 2011-12.It Is Now Aligned With The Base Year Of Other Indicators Like The WPI And GDP.

Coal Weight 10.33%

India Is The 3rd Largest Coal Producing Country In The World After China And USA.

Around 70 % Of India’s Power Generation Os Coal Based.

Crude Oil Weight 8.98 %

India Is The 3rd Largest Importer Of Oil In The World.

About 30 % Of India’s Total Energy Consumption Is Met By Oil.

India Imports 82 % Of Its Oil Needs And Aims To Bring That Down To 67 % By 2022 By Replacing It With Local Exploration Renewable Energy And Indigenous Ethanol Fuel.

Natural Gas Weight 28.04%

India Has Emerged As A Refining Hub In Asia, Serving A Massive Domestic Market For Refined Petroleum Products And Even Exports.

With A Slump In Global Oil And Gases Prices, Refiners And LNG Importers Have An Opportunity To Make More Profit By Enhancing Efficiency In Refining As Re-Gasification LNG.

Fertilizers Weight 2.63%

India Is Meeting 80 % Of Its Urea Requirements Through Indigenous Production However, Other Requirements Like Potash And Phosphate Are Met Through Imports.

The Make In India Initiative Is Encouraging The Production Of Fertilizers Within The Country To An Extent The Government Wants To Eliminate The Imports Of Urea By 2021 And Make India Self-Reliant.

Steel Weight 17.92 %

India Is The World ‘S Second Largest Steel Producer In 2018.

The Growth In The Indian Steel Sector Has Been Driven By Domestic Availability Of Raw Materials Such As Iron Ore And Cost –Effective Labour.

Cement Weight 5.37 %

India Is The Second Largest Producer Of Cement In The World.

Some Of The Major Initiatives Such As Development Of Smart Cities Is Expected To Provide A Major Boost To The Sector.

A Significant Factor Which Aids Of This Sector Is The Ready Availability Of The Raw Materials, Such As Limestone And Coal.

Index Of Eight Core Industries

The Monthly Index Of Core Industries (ICI) Is A Production Volume Index.

It Measures Collective And Individual Performance Of Production In The Eight Core Industries.

It Is Compiled And Released By Office Of Economic Advisor (OEA), Department Of Industrial Policy & Promotion (DIPP) ,Ministry Of Commerce And Industry. Refinery Products Has The Highest Weight, And Fertilizer Industry Has The Lowest.

Base Year 2011-12.

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