Core-industry growth reaches 7.9% in September; energy sectors show a mixed picture

India’s Index of Core Industries grew 7.9% year on year in September 2026, according to provisional figures released on October 21. August’s final growth rate was 5.9%, revised upward from the earlier provisional estimate of 4.8%.

Iron ore output rose 18.4%, electricity 11.4%, coal 10.7% and refinery products 10.3%. Cement grew 9.8% and steel 4.9%. Natural gas, crude oil and fertilisers contracted, showing that the improvement was uneven across industries.

For April–September, cumulative growth stood at a provisional 5.1%, compared with 2.5% in the corresponding period a year earlier. These are production indicators, rather than a measure of companies’ profits or the country’s GDP growth.

For readers following business and markets, the useful signal is the difference between stronger output in several industrial sectors and continued weakness in others. The figures alone cannot establish how a particular share will perform. September’s numbers remain provisional; the next monthly release is scheduled for November 20.