The Ministry released provisional figures on Wednesday, showing the Core Industries Index climbed 7.9% in September 2026, up from 5.9% in August, marking the fastest single‑month gain in the last decade.
The eight‑sector index, which weighs 40.27% of the overall Industrial Production Index, tracked a sharp rise in six of its key segments. Iron ore output jumped 18.4% year‑on‑year, while electricity, coal and refinery products grew 11.4%, 10.7% and 10.3% respectively. Cement production rose 9.8% and steel output increased 4.9%, but fertiliser output fell 11.7% and natural gas slipped 4.6%. Crude oil production contracted 1.4%.
Coal miner Ramesh Singh of Jodhpur said the higher output reflects a surge in domestic demand, but he warned that the sector’s labor shortage could curtail further gains. A small cement plant owner in Punjab noted the 9.8% rise helped keep his business afloat amid rising raw material costs.
Cumulative growth for the core industries index from April to September 2026 stands at 5.1%, more than double the 2.5% achieved in the same period last year. The Ministry also revised August’s final index upward to 120.4 from the provisional 119.2, pushing the month‑on‑month growth rate to 5.9% from the earlier 4.8%.
Market analysts say the data could influence the government’s next industrial policy review, scheduled for early December. Investors are watching closely as October figures, due on November 20, may confirm whether the upward trend continues.
The Ministry’s release comes as the country prepares to announce a $4.2‑trillion infrastructure package next month, a move that could further stimulate the six strongest sectors.