Ministry of Commerce & Industry
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INDEX OF EIGHT CORE INDUSTRIES (BASE YEAR: 2011-12=100) FOR SEPTEMBER, 2025

Posted On: 21 OCT 2025 5:00PM by PIB Delhi

The combined Index of Eight Core Industries (ICI) increased by 3.0 per cent (provisional) in September, 2025 as compared to the Index in September, 2024. The production of Steel, Cement, Electricity and Fertilizer recorded positive growth in September, 2025. The details of annual indices, monthly indices and growth rates are provided at Annex I and Annex II.

The ICI measures the combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

The final growth rate of Index of Eight Core Industries for August 2025 was observed at 6.5 per cent. The cumulative growth rate of ICI during April to September, 2025-26 is 2.9 per cent (provisional) as compared to the corresponding period of last year.

The summary of the Index of Eight Core Industries is given below:

Coal - Coal production (weight: 10.33 per cent) declined by 1.2 per cent in September, 2025 over September, 2024. Its cumulative index declined by 0.7 per cent during April to September, 2025-26 over corresponding period of the previous year.

Crude Oil - Crude Oil production (weight: 8.98 per cent) declined by 1.3 per cent in September, 2025 over September, 2024. Its cumulative index declined by 1.1 per cent during April to September, 2025-26 over corresponding period of the previous year.

Natural Gas - Natural Gas production (weight: 6.88 per cent) declined by 3.8 per cent in September, 2025 over September, 2024. Its cumulative index declined by 2.9 per cent during April to September, 2025-26 over corresponding period of the previous year.

Petroleum Refinery Products - Petroleum Refinery production (weight: 28.04 per cent) declined by 3.7 per cent in September, 2025 over September, 2024. Its cumulative index declined by 0.3 per cent during April to September, 2025-26 over corresponding period of the previous year.

Fertilizers - Fertilizer production (weight: 2.63 per cent) increased by 1.6 per cent in September, 2025 over September, 2024. Its cumulative index declined by 0.4 per cent during April to September, 2025-26 over corresponding period of the previous year.

Steel - Steel production (weight: 17.92 per cent) increased by 14.1 per cent in September, 2025 over September, 2024. Its cumulative index increased by 11.0 per cent during April to September, 2025-26 over corresponding period of the previous year.

Cement - Cement production (weight: 5.37 per cent) increased by 5.3 per cent in September, 2025 over September, 2024. Its cumulative index increased by 7.7 per cent during April to September, 2025-26 over corresponding period of the previous year.

Electricity - Electricity generation (weight: 19.85 per cent) increased by 2.1 per cent in September, 2025 over September, 2024. Its cumulative index increased by 0.9 per cent during April to September, 2025-26 over corresponding period of the previous year.

 

Note 1: Data for August, 2025 is Final. Data for September, 2025 is Provisional. Index numbers of Core Industries are revised/finalized as per updated data from source agencies.

Note 2: Since April 2014, Electricity generation data from Renewable sources are also included.

Note 3: The industry-wise weights indicated above are individual industry weights derived from IIP and blown up on pro rata basis to a combined weight of ICI equal to 100.

Note 4: Since March 2019, a new steel product called Hot Rolled Pickled and Oiled (HRPO) under the item ‘Cold Rolled (CR) coils’ within the production of finished steel has also been included.

Note 5: Release of the index for October, 2025 will be on Thursday, 20th November, 2025.

 

 

 

Annex I

Performance of Eight Core Industries

Yearly Index & Growth Rate

Base Year: 2011-12=100

Index

Sector

Coal

Crude Oil

Natural Gas

Refinery Products

Fertilizers

Steel

Cement

Electricity

Overall Index

Weight

10.33

8.98

6.88

28.04

2.63

17.92

5.37

19.85

100.00

2012-13

103.2

99.4

85.6

107.2

96.7

107.9

107.5

104.0

103.8

2013-14

104.2

99.2

74.5

108.6

98.1

115.8

111.5

110.3

106.5

2014-15

112.6

98.4

70.5

108.8

99.4

121.7

118.1

126.6

111.7

2015-16

118.0

97.0

67.2

114.1

106.4

120.2

123.5

133.8

115.1

2016-17

121.8

94.5

66.5

119.7

106.6

133.1

122.0

141.6

120.5

2017-18

124.9

93.7

68.4

125.2

106.6

140.5

129.7

149.2

125.7

2018-19

134.1

89.8

69.0

129.1

107.0

147.7

147.0

156.9

131.2

2019-20

133.6

84.5

65.1

129.4

109.8

152.6

145.7

158.4

131.6

2020-21

131.1

80.1

59.8

114.9

111.6

139.4

130.0

157.6

123.2

2021-22

142.3

77.9

71.3

125.1

112.4

163.0

156.9

170.1

136.1

2022-23

163.5

76.6

72.4

131.2

125.1

178.1

170.6

185.2

146.7

2023-24

182.7

77.1

76.8

135.9

129.8

200.4

185.7

198.3

157.8

2024-25

192.0

75.4

75.9

139.7

133.5

214.1

197.4

208.6

164.9

Apr-Sep 2024-25

166.2

75.5

76.8

137.5

133.1

206.2

185.4

217.3

161.3

Apr-Sep 2025-26*

165.0

74.7

74.6

137.1

132.6

228.8

199.7

219.2

166.0

    *Provisional

 

 

Growth Rates (on Y-o-Y basis in per cent)

Sector

Coal

Crude Oil

Natural Gas

Refinery Products

Fertilizers

Steel

Cement

Electricity

Overall Growth

Weight

10.33

8.98

6.88

28.04

2.63

17.92

5.37

19.85

100.00

2012-13

3.2

-0.6

-14.4

7.2

-3.3

7.9

7.5

4.0

3.8

2013-14

1.0

-0.2

-12.9

1.4

1.5

7.3

3.7

6.1

2.6

2014-15

8.0

-0.9

-5.3

0.2

1.3

5.1

5.9

14.8

4.9

2015-16

4.8

-1.4

-4.7

4.9

7.0

-1.3

4.6

5.7

3.0

2016-17

3.2

-2.5

-1.0

4.9

0.2

10.7

-1.2

5.8

4.8

2017-18

2.6

-0.9

2.9

4.6

0.03

5.6

6.3

5.3

4.3

2018-19

7.4

-4.1

0.8

3.1

0.3

5.1

13.3

5.2

4.4

2019-20

-0.4

-5.9

-5.6

0.2

2.7

3.4

-0.9

0.9

0.4

2020-21

-1.9

-5.2

-8.2

-11.2

1.7

-8.7

-10.8

-0.5

-6.4

2021-22

8.5

-2.6

19.2

8.9

0.7

16.9

20.8

8.0

10.4

2022-23

14.8

-1.7

1.6

4.8

11.3

9.3

8.7

8.9

7.8

2023-24

11.8

0.6

6.1

3.6

3.7

12.5

8.9

7.1

7.6

2024-25

5.1

-2.2

-1.2

2.8

2.9

6.8

6.3

5.2

4.5

Apr-Sep 2024-25

5.9

-2.1

2.0

2.3

1.7

6.3

1.8

6.1

4.3

Apr-Sep 2025-26*

-0.7

-1.1

-2.9

-0.3

-0.4

11.0

7.7

0.9

2.9

  *Provisional.

   Y-o-Y is calculated over the corresponding financial year of previous year

 

Annex II

Performance of Eight Core Industries

Monthly Index & Growth Rate

Base Year: 2011-12=100

Index

Sector

Coal

Crude Oil

Natural Gas

Refinery Products

Fertilizers

Steel

Cement

Electricity

Overall Index

Weight

10.33

8.98

6.88

28.04

2.63

17.92

5.37

19.85

100.00

Sep-24

151.8

72.0

75.8

134.1

134.8

202.0

178.8

206.9

155.4

Oct-24

186.0

74.6

79.3

135.5

136.9

212.9

187.2

207.8

162.4

Nov-24

199.6

73.9

75.7

138.4

136.2

212.9

177.0

184.1

159.1

Dec-24

215.1

77.9

78.1

149.1

139.8

221.8

211.7

192.8

169.4

Jan-25

229.8

77.9

78.1

147.2

139.0

228.1

219.7

201.7

173.8

Feb-25

215.6

69.7

70.0

133.5

124.9

216.8

215.1

194.0

163.0

Mar-25

260.2

77.4

69.2

147.3

126.9

238.9

246.2

219.5

182.9

Apr-25

179.3

74.2

74.1

131.7

112.9

219.2

204.5

215.7

163.3

May-25

189.8

76.5

75.9

143.3

127.9

225.3

209.0

218.5

170.2

Jun-25

173.7

73.5

73.7

138.6

132.4

223.8

214.7

220.1

167.3

Jul-25

143.0

75.6

75.5

141.7

141.6

239.1

194.8

228.4

168.9

Aug-25

153.9

77.5

75.7

138.0

143.8

234.6

186.9

221.1

166.5

Sep-25*

150.0

71.1

72.9

129.2

137.0

230.5

188.3

211.3

160.1

    *Provisional

 

 

Growth Rates (on Y-o-Y basis in per cent)

Sector

Coal

Crude Oil

Natural Gas

Refinery Products

Fertilizers

Steel

Cement

Electricity

Overall Growth

Weight

10.33

8.98

6.88

28.04

2.63

17.92

5.37

19.85

100.00

Sep-24

2.6

-3.9

-1.3

5.8

1.9

1.8

7.6

0.5

2.4

Oct-24

7.8

-4.8

-1.2

5.2

0.4

5.7

3.1

2.0

3.8

Nov-24

7.5

-2.1

-1.9

2.9

2.0

10.5

13.1

4.4

5.8

Dec-24

5.3

0.6

-1.8

2.8

1.7

7.3

10.3

6.2

5.1

Jan-25

4.6

-1.1

-1.5

8.3

3.0

4.7

14.3

2.3

5.1

Feb-25

1.7

-5.2

-6.0

0.8

10.2

6.9

10.7

3.6

3.4

Mar-25

1.6

-1.9

-12.7

0.2

8.8

8.7

12.2

7.5

4.5

Apr-25

3.5

-2.8

-0.9

-4.5

-4.2

4.4

6.3

1.7

1.0

May-25

2.8

-1.8

-3.6

1.1

-5.9

7.4

9.7

-4.7

1.2

Jun-25

-6.8

-1.2

-2.8

3.4

-1.2

9.7

8.2

-1.2

2.2

Jul-25

-12.3

-1.3

-3.2

-1.1

2.0

16.6

11.6

3.7

3.7

Aug-25

11.4

2.4

-2.2

3.0

4.6

13.6

5.4

4.1

6.5

Sep-25*

-1.2

-1.3

-3.8

-3.7

1.6

14.1

5.3

2.1

3.0

   *Provisional.

   Y-o-Y is calculated over the corresponding financial year of previous year

***

Abhishek Dayal/ Abhijith Narayanan


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