Indian Industry Plus A Pratisrutiplus Suppliment
Provisional Index of Core Industries for the month of September 2026 (Base Year 2022-23)
Key highlights of ICI for the month of September 2026
- The Index of Core Industries (ICI) grew by 7.9 per cent in September 2026 (Provisional) on a year-on-year basis, compared with September 2025, higher than the growth rate of 5.9 per cent recorded in August 2026 (Final).
- Iron Ore, Electricity, Coal, Refinery Products, Cement, and Steel observed (Y-o-Y) growth rate of 18.4 per cent, 11.4 per cent, 10.7 per cent, 10.3 per cent, 9.8 per cent, and 4.9 per cent respectively, whereas Fertilizers, Natural Gas, and Crude Oil witnessed negative growth in September 2026.
- Coal, Refinery Products, Steel and Iron Ore have been the major drivers of overall growth of ICI during recent months.
- Cumulative growth rate of ICI during April-September 2026 was 5.1 per cent (Provisional) compared to 2.5 per cent in the corresponding period of the previous year.
- The charts (1 to 4) below show trend in ICI and its growth rate for the last 13 months, industry-wise indices and growth rates for August and September 2026, and sector-wise contribution to overall ICI growth in September 2026.
Chart 1: ICI and Growth Rate
(P)-Provisional
Chart 2: Sector-wise Index in August and September 2026
(P)-Provisional
Chart 3: Sector-wise Growth Rate in August and September 2026
(P)-Provisional
Chart 4: Sector-wise Contribution to overall Growth
(P)-Provisional
- The final index for the month of August 2026 has been revised from 119.2 (Provisional) to 120.4. Accordingly, YoY growth rate has been revised from 4.8 per cent to 5.9 per cent.
- Index of Core Industries, and Year-on-Year (YoY) growth rate for the last 13 months is given at Annexure-I and Annexure-II. ICI for the months of April 2023 onward have been placed on the web portal of OEA at web link (https://eaindustry.nic.in/ici_download_data.asp).
- Annual and Cumulative Index and YoY growth rate is given at Annexure-III and Annexure-IV.
- Release Schedule: Provisional index of ICI for a reference month is released on the 20th of the following month (if it is a working day, else on next working day). Accordingly, the ICI for the month of October 2026 will be released on Friday, 20th November 2026.
Annexure-I
Table 1: Index of Core Industries for last 13 months
| Sector | Coal | Natural Gas | Crude Oil | Refinery Products | Fertilizers | Steel | Cement | Electricity | Iron Ore | Overall Index |
| Weight | 5.596 | 3.841 | 7.43 | 22.572 | 2.731 | 17.584 | 4.41 | 30.932 | 4.905 | 100.00 |
| Sep-25 | 91.5 | 100.7 | 93.3 | 99.0 | 109.5 | 133.0 | 110.1 | 115.2 | 91.5 | 109.6 |
| Oct-25 | 104.1 | 103.9 | 96.6 | 108.9 | 117.5 | 131.7 | 115.4 | 104.4 | 115.7 | 111.0 |
| Nov-25 | 124.6 | 102.1 | 93.9 | 105.1 | 114.9 | 131.3 | 119.0 | 97.9 | 134.6 | 110.0 |
| Dec-25 | 136.5 | 103.2 | 96.5 | 113.1 | 116.3 | 141.4 | 141.2 | 110.6 | 146.5 | 120.0 |
| Jan-26 | 141.5 | 102.5 | 96.2 | 112.5 | 115.2 | 148.1 | 143.3 | 114.5 | 146.7 | 122.5 |
| Feb-26 | 133.9 | 91.9 | 86.7 | 101.2 | 103.3 | 134.7 | 137.6 | 107.1 | 137.3 | 112.7 |
| Mar-26 | 152.9 | 101.2 | 95.7 | 113.1 | 76.5 | 149.2 | 151.1 | 119.5 | 160.6 | 124.9 |
| Apr-26 | 99.8 | 98.0 | 93.4 | 100.6 | 82.5 | 134.3 | 129.5 | 122.9 | 137.1 | 115.3 |
| May-26 | 105.0 | 99.6 | 95.8 | 100.3 | 101.2 | 137.5 | 132.5 | 131.2 | 148.5 | 120.1 |
| Jun-26 | 107.6 | 97.0 | 92.5 | 101.5 | 102.3 | 136.8 | 138.4 | 132.3 | 148.7 | 120.7 |
| Jul-26 | 93.8 | 101.3 | 94.0 | 111.6 | 104.0 | 139.6 | 128.7 | 133.6 | 104.8 | 120.8 |
| Aug-26 | 89.8 | 99.5 | 94.7 | 111.6 | 100.7 | 140.6 | 122.4 | 135.1 | 96.1 | 120.4 |
| Sep-26 (P) | 101.3 | 96.1 | 92.0 | 109.2 | 96.7 | 139.5 | 120.9 | 128.3 | 108.3 | 118.3 |
Data for September 2026 is Provisional
Annexure-II
Table 2: YoY growth rate of ICI for last 13 months
| Sector | Coal | Natural Gas | Crude Oil | Refinery Products | Fertilizers | Steel | Cement | Electricity | Iron Ore | Overall Index |
| Weight | 5.596 | 3.841 | 7.43 | 22.572 | 2.731 | 17.584 | 4.41 | 30.932 | 4.905 | 100.00 |
| Sep-25 | -1.1 | -3.7 | -0.7 | -3.2 | 1.7 | 14.3 | 5.1 | 3.1 | 0.8 | 3.1 |
| Oct-25 | -8.4 | -5.2 | -0.8 | 5.3 | 7.4 | 9.5 | 5.2 | -7.0 | 8.7 | 0.8 |
| Nov-25 | 2.2 | -2.5 | -2.6 | -0.2 | 5.5 | 11.6 | 15.1 | -1.5 | 19.3 | 3.5 |
| Dec-25 | 3.7 | -4.4 | -5.1 | -0.3 | 4.1 | 11.1 | 14.0 | 6.2 | 22.3 | 5.6 |
| Jan-26 | 0.9 | -4.9 | -5.4 | 0.4 | 3.7 | 13.8 | 11.3 | 5.1 | 12.8 | 5.2 |
| Feb-26 | 1.4 | -5.0 | -4.8 | -0.4 | 3.5 | 9.9 | 9.1 | 2.3 | 8.5 | 3.2 |
| Mar-26 | -4.0 | -3.7 | -5.3 | 0.9 | -24.6 | 9.6 | 4.7 | 0.8 | 33.3 | 2.9 |
| Apr-26 | -9.0 | -4.2 | -3.2 | -0.2 | -8.5 | 4.7 | 8.3 | 5.5 | 12.5 | 2.7 |
| May-26 | -9.5 | -5.0 | -4.2 | -8.2 | -1.0 | 5.1 | 8.4 | 11.2 | 19.0 | 3.2 |
| Jun-26 | 1.4 | -4.8 | -4.2 | -4.0 | -3.3 | 5.6 | 9.9 | 11.4 | 44.5 | 6.0 |
| Jul-26 | 7.6 | -3.0 | -5.3 | 3.0 | -8.0 | 1.9 | 12.7 | 8.4 | 29.5 | 5.0 |
| Aug-26 | -3.8 | -4.9 | -3.6 | 5.6 | -12.4 | 3.5 | 11.7 | 13.1 | 5.5 | 5.9 |
| Sep-26 (P) | 10.7 | -4.6 | -1.4 | 10.3 | -11.7 | 4.9 | 9.8 | 11.4 | 18.4 | 7.9 |
Data for September 2026 is Provisional
Annexure-III
Table 3: Annual and Cumulative Index of Core Industries
| Sector | Coal | Natural Gas | Crude Oil | Refinery Products | Fertilizers | Steel | Cement | Electricity | Iron Ore | Overall Index |
| Weight | 5.596 | 3.841 | 7.43 | 22.572 | 2.731 | 17.584 | 4.41 | 30.932 | 4.905 | 100.00 |
| 2023-24 | 111.7 | 106.1 | 100.6 | 103.6 | 103.7 | 113.6 | 108.9 | 107.1 | 107.3 | 107.2 |
| 2024-25 | 117.3 | 105.7 | 98.4 | 106.5 | 106.7 | 121.8 | 115.9 | 112.6 | 112.2 | 111.8 |
| 2025-26 | 116.4 | 102.0 | 95.8 | 106.9 | 106.6 | 135.9 | 125.8 | 113.8 | 121.2 | 115.2 |
| Apr-Sep 25 | 100.6 | 103.1 | 97.3 | 104.8 | 106.0 | 132.4 | 116.9 | 118.5 | 102.2 | 113.5 |
| Apr-Sep 26 | 99.6 | 98.6 | 93.7 | 105.8 | 97.9 | 138.1 | 128.7 | 130.6 | 123.9 | 119.3 |
Data for April-September 2026 is Provisional
Annexure-IV
Table 4: YoY Growth Rate of Annual and Cumulative Index of Core Industries
| Sector | Coal | Natural Gas | Crude Oil | Refinery Products | Fertilizers | Steel | Cement | Electricity | Iron Ore | Overall Index |
| Weight | 5.596 | 3.841 | 7.43 | 22.572 | 2.731 | 17.584 | 4.41 | 30.932 | 4.905 | 100.00 |
| 2024-25 | 5.0 | -0.4 | -2.2 | 2.8 | 2.9 | 7.2 | 6.4 | 5.1 | 4.6 | 4.3 |
| 2025-26 | -0.8 | -3.5 | -2.6 | 0.4 | -0.1 | 11.6 | 8.5 | 1.1 | 8.0 | 3.0 |
| Apr-Sep 25 | -0.8 | -2.9 | -1.3 | -0.2 | -0.4 | 12.2 | 7.1 | 1.0 | -2.8 | 2.5 |
| Apr-Sep 26 | -1.0 | -4.4 | -3.7 | 1.0 | -7.6 | 4.3 | 10.1 | 10.2 | 21.2 | 5.1 |
Data for April-September 2026 is Provisional
