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

1. 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).
2. 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.
3. Coal, Refinery Products, Steel and Iron Ore have been the major drivers of overall growth of ICI during recent months.
4. 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.
5. 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

1. 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.
2. 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).
3. Annual and Cumulative Index and YoY growth rate is given at Annexure-III and Annexure-IV.
4. 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, 20^th 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

Data for April-September 2026 is Provisional

Annexure-IV

Table 4: YoY Growth Rate of Annual and Cumulative Index of Core Industries

Data for April-September 2026 is Provisional

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Abhishek Dayal

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