Core sectors

Subject – Economy

Context – Sept core sector growth drops to 4.4% YoY as rains affect infra activity

Concept –

Core industry can be defined as the main industry which has a multiplier effect on the economy.
In most countries, there is particular industry that seems to be backbone of all other industries and it qualifies to be the core industry.
The eight Core Industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.
The Eight Core Industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

To know about IIP, please refer September 2021 DPN.