The Index of Eight Core Industries (ICI) recorded a growth of 2.3% (provisional) in February 2026 compared to February 2025. The growth was primarily driven by increased production in cement, steel, fertilizers, coal and electricity.
Growth Trend: The final growth rate of ICI for January 2026 was observed at 4.7%. The cumulative growth rate of ICI during April to February, 2025-26 is 2.9% (provisional) as compared to the corresponding period of last year.
About Index of Eight Core Industries (ICI)
The ICI is a monthly production volume index that measures the performance of eight key infrastructure industries, which are critical for industrial and economic activity. These industries are considered the backbone of the economy, as they provide critical inputs for most other industrial activities.
| Industry | Weight (%) |
|---|---|
| Refinery Products | 28.04% |
| Electricity | 19.85% |
| Steel | 17.92% |
| Coal | 10.33% |
| Crude Oil | 8.98% |
| Natural Gas | 6.88% |
| Cement | 5.37% |
| Fertilizers | 2.63% |
- Releasing Authority: Compiled and released monthly by the Office of the Economic Adviser (OEA), Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry.
- Base Year: Currently 2011-12, aligned with the base year for the IIP.
- Release Cycle: Typically released on the last working day of every month with a one-month time lag
- Significance: ICI acts as a leading indicator of industrial growth. These industries account for 27% weight in the Index of Industrial Production (IIP).
Index of Eight Core Industries – February 2026 Performance
| Core Industry | Weight (%) | February 2026 Growth (YoY) | Cumulative Growth (Apr–Feb 2025–26) | Trend / Insight |
|---|---|---|---|---|
| Coal | 10.33 | Increased by 2.3% | Remained unchanged (0.0%) | Stable performance with marginal monthly growth |
| Crude Oil | 8.98 | Declined by 5.2% | Declined by 2.5% | Continued contraction in output |
| Natural Gas | 6.88 | Declined by 5.0% | Declined by 3.5% | Persistent decline indicating supply constraints |
| Petroleum Refinery Products | 28.04 | Declined by 1.0% | Declined by 0.1% | Slight contraction despite high weight |
| Fertilizers | 2.63 | Increased by 3.4% | Increased by 2.0% | Moderate growth supporting agriculture |
| Steel | 17.92 | Increased by 7.2% | Increased by 9.7% | Strong growth driven by infrastructure demand |
| Cement | 5.37 | Increased by 9.3% | Increased by 9.2% | Robust growth reflecting construction activity |
| Electricity | 19.85 | Increased by 0.5% | Increased by 0.9% | Marginal growth indicating stable demand |