Page 20 - Policy Economic Report - November 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Inorganic Chemicals (-0.11%) had recorded negative growth during October 2025 over the
corresponding month of last year.
• Services exports is estimated to grow by 9.75 percent during April-October 2025 over April-
October 2024.
• Top 5 export destinations, in terms of change in value, exhibiting growth in October 2025 vis a vis
October 2024 are China P Rp (42.35%), Spain (43.43%), Sri Lanka (29.02%), Vietnam Soc Rep
(21.42%) and Tanzania Rep (17.92%).
• Top 5 export destinations, in terms of change in value, exhibiting growth in April-October 2025
vis a vis April-October 2024 are U S A (10.15%), China P Rp (24.77%), U Arab Emts (5.88%), Spain
(40.74%) and Hong Kong (20.7%).
• Top 5 import sources, in terms of change in value, exhibiting growth in October 2025 vis a vis
October 2024 are Switzerland (403.67%), Hong Kong (93.98%), China P Rp (15.63%), U K (194.41%)
and U Arab Emts (14.38%).
• Top 5 import sources, in terms of change in value, exhibiting growth in April-October 2025 vis a
vis April-October 2024 are China P Rp (11.88%), U Arab Emts (13.43%), Hong Kong (31.38%),
Ireland (169.44%) and U S A (9.73%).

6. Index Of Eight Core Industries (Base Year: 2011-12=100) For October, 2025

The combined Index of Eight Core Industries (ICI) in October 2025 has remained unchanged at
162.4 (provisional) as compared to the Index in October, 2024. The production of Fertilizer, Steel, Cement
and Petroleum Refinery products recorded growth in October, 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 September 2025 was observed at 3.3 per cent.
The cumulative growth rate of ICI during April to October, 2025-26 is 2.5 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 8.5 per cent in October, 2025 over
October, 2024. Its cumulative index declined by 2.0 per cent during April to October, 2025-26 over
corresponding period of the previous year.

• Crude Oil - Crude Oil production (weight: 8.98 per cent) declined by 1.2 per cent in October, 2025
over October, 2024. Its cumulative index declined by 1.1 per cent during April to October, 2025-
26 over corresponding period of the previous year.

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