Index of Eight Core Industries Grows 7.9% in September 2026

India’s Index of Eight Core Industries (ICI) grew by 7.9% on a yearly basis in the month of September 2026, as per the revised growth of 5.9% in the previous month. In line with the provisional data, sectors such as iron ore, electricity, coal, and refinery products performed exceptionally well. The aggregate growth of the April-September 2026 stood at 5.1% against 2.5% in the same period of the previous fiscal year. The Index of the Eight Core Industries (ICI) measures the production in eight critical industries of the country.

Important Highlights of the Index of Core Industries (ICI) for September 2026

ICI rose by the 7.9% against September 2025, while its revised growth in August 2026 was 5.9%.

• Growth of ICI: 7.9% in September 2026 (YOY).
• Best performing product: Iron ore registered the highest growth of 18.4%.
• Other best performing products: Electricity – 11.4%, coal – 10.7% and refinery products – 10.3%.
• Worst performing products: Fertilizers, natural gas, and crude oil.
• Cumulative growth of ICI: 5.1% in April-September 2026 against 2.5% in April-September 2025.
• Revised August index: From 119.2 to 120.4, thus making its YOY growth rate rise from 4.8% to 5.9%.

Growth Rates by Sector in September 2026

The below mentioned percentages represent the provisional year-over-year growth rates in September 2026.

Industry	Growth rate
Iron ore	18.4%
Electricity	11.4%
Coal	10.7%
Refinery products	10.3%
Cement	9.8%
Steel	4.9%
Crude oil	-1.4%
Natural gas	-4.6%
Fertilizers	-11.7%
Total ICI	7.9%

Iron ore had the highest growth rate, whereas fertilizers posted the lowest. The growth in the index rate was attributed to the increased growth rate in various industries.

What Is the Index of Core Industries (ICI)?

The Index of Core Industries (ICI) calculates changes in production levels in industries critical to the economic and industrial development. The given September 2026 report considers 2022-23 as the base year.

The index is computed and released by the Office of the Economic Adviser (OEA), Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.

According to the given dataset, the following nine industry groups are used: coal, natural gas, crude oil, refinery products, fertilizers, steel, cement, electricity, and iron ore.

As it can be seen from the above-listed industries, iron ore is listed separately, and therefore it should be considered according to the sector classifications and weights provided by this particular report.

Weight of the Each Industry in the September 2026 Numbers

Industry	Weight (%)
Electricity	30.932
Refinery products	22.572
Steel	17.584
Crude oil	7.430
Coal	5.596
Iron ore	4.905
Cement	4.410
Natural gas	3.841
Fertilizers	2.731
Total	100.001*

The total is nearly 100% due to the rounding in the published weights.

The highest weight in this particular dataset belongs to electricity, then refinery products, and steel. Thus, the fluctuations in these sectors can affect the index significantly.