The June 2026 provisional data show that the Index of Core Industries (ICI) grew by 5 % year‑on‑year, the fastest pace in five months. The rise follows the release of a revised series by the Ministry of Commerce and Industry on 20 July 2026. The new series uses 2022‑23 as the base year and adds iron ore as a ninth sector.
Key Developments
- The revised ICI shows a 5 % YoY growth in June 2026, up from 3.2 % in May 2026.
- Growth in June is the second‑fastest after the 5.2 % rise recorded in January 2026.
- Iron ore surged 43.9 % in June, driven largely by a low base effect.
- All hydrocarbon energy sectors (crude oil, natural gas, refinery products, fertilizers) contracted, reflecting higher imports and softer global oil prices.
- The coal sector posted a modest 1.4 % gain, ending a three‑month decline.
- Steel grew 4.6 % and cement 9.8 %, supported by government and private‑sector spending.
- Electricity generation rose 9.8 %, helped by a heat‑wave and higher industrial demand.
Important Facts
The updated ICI now covers nine sectors: iron ore, coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity generation. Sectoral weights and estimation methods have been revised to reflect current industrial structures. The sharp rise in iron ore