What happened
Output across India’s core industries was 7.9% higher in September 2026 than a year earlier, speeding up from 5.9% in August. The Ministry of Commerce and Industry published the provisional figures on Wednesday, 21 October, as Business Today, CNBC-TV18 and The Times of India reported. A year ago, in September 2025, growth was 3.1%.
The core sector is a group of basic industries whose products feed energy, raw material and construction needs across the rest of the economy. The index follows power generation, cement and steel, along with mined and refined fuels, natural gas and fertilisers. Business Today also counts iron ore, which brings its tally to nine industries.
The ministry also raised its August estimate. Growth for that month now stands at 5.9%, against an initial 4.8%, and the index moved to 120.4 from 119.2.
Sector by sector in September
| Industry | Change from a year earlier |
|---|---|
| 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% |
| Fertilisers | -11.7% |
April-September picture
Over the first six months of the financial year, cumulative core output grew 5.1%, against 2.5% in the same period a year earlier. Iron ore grew 21.2%, electricity 10.2% and cement 10.1%. Steel rose 4.3% and refinery products 1%.
Fertiliser output fell 7.6% over the six months, natural gas 4.4% and crude oil 3.7%. Coal production was down 1%.
What it means for you
The index gives a quick read on industrial activity. Power, steel and cement supply factories and construction sites, so faster growth here often points to firmer activity elsewhere. It is not a forecast, and the September figures are provisional, so they can change, as August’s did.
The picture is uneven. Fertiliser, natural gas and crude oil output all contracted, both in September and over the six months.
Background
These industries carry a combined weight of 40.27% among the items in the Index of Industrial Production (IIP), the government’s wider measure of factory, mining and power output. That weight is why the core data is watched ahead of the wider IIP numbers.
The ministry said coal, refinery products, steel and iron ore have been major drivers of growth in recent months. The next release, covering October 2026, is scheduled for 20 November.
