The combined Index of Eight Core Industries (ICI) declined by 0.4% (provisional) in March 2026 compared to March 2025. The cumulative growth rate of ICI during April–March 2025-26 stood at 2.6% (provisional) over the corresponding period of the previous year. The final growth rate for February 2026 was revised to 2.8%.
What is Index of Eight Core Industries (ICI) ?
- The Index of Eight Core Industries (ICI)is a monthly production volume index that tracks the performance of India’s most fundamental industrial sectors.
- Released by: Office of the Economic Adviser (OEA), under Ministry of Commerce and Industry.
- Base Year: Currently 2011-12.
- Purpose: Acts as a “lead indicator” for overall industrial growth and economic health before full IIP data is released.
- Frequency: Published monthly, usually on the last working day of the following month.
- Contribution in IIP: The Eight Core Industries comprise 27% of the weight of items included in the Index of Industrial Production (IIP). Base Year: 2011-12 = 100.
Sector-wise Performance — March 2026
Negative Growth Sectors:
| Fertilizers (Weight: 2.63%) | Growth: (-) 24.6% (steepest decline) Cumulative FY 2025–26: (-) 0.1% |
| Crude Oil (Weight: 8.98%) | Growth: (-) 5.7% Cumulative FY 2025–26: (-) 2.8% |
| Coal (Weight: 10.33%) | Growth: (-) 4.0% Cumulative FY 2025–26: (-) 0.5% |
| Electricity (Weight: 19.85%) | Growth: (-) 0.5% Cumulative FY 2025–26: +0.9% |
Positive Growth Sectors:
| Natural Gas (Weight: 6.88%) | Growth: +6.4% Cumulative FY 2025–26: (-) 2.8% |
| Cement (Weight: 5.37%) | Growth: +4.0% Cumulative FY 2025–26: +8.6% |
| Steel (Weight: 17.92%) | Growth: +2.2% Cumulative FY 2025–26: +9.1% (highest among all sectors) |
| Petroleum Refinery Products (Weight: 28.04% – Highest weight) | Growth: +0.1% Cumulative FY 2025–26: (-) 0.1% |