The combined Index of Eight Core Industries (ICI) rose by 4.0 per cent in January 2026 on a provisional basis compared with January 2025. The ICI tracks output across coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity. These eight sectors together account for 40.27 per cent of the Index of Industrial Production (IIP), making the ICI a key indicator of industrial momentum in India.
Overall Performance
The final growth rate for December 2025 was 4.7 per cent. The cumulative growth of the ICI during April to January 2025-26 stood at 2.8 per cent, compared with the same period in the previous year. January 2026 showed mixed sectoral performance, with strong gains in steel, cement, electricity, fertilisers and coal, while crude oil and natural gas declined.
Sectors Showing Growth
- Coal production increased by 3.1 per cent in January 2026.
- Fertiliser output rose by 3.7 per cent.
- Steel production grew by 9.9 per cent.
- Cement output increased by 10.7 per cent.
- Electricity generation rose by 3.8 per cent.
Sectors Showing Decline Or Stagnation
- Crude oil production fell by 5.8 per cent.
- Natural gas output declined by 5.0 per cent.
- Petroleum refinery products remained unchanged in January 2026.
Exam-Relevant Notes
- The ICI is a major high-frequency indicator of industrial activity.
- Electricity data include renewable sources since April 2014.
- A new steel product, Hot Rolled Pickled and Oiled (HRPO), has been included under finished steel since March 2019.
- January 2026 data are provisional, while December 2025 data are final.