Government of India's Index of Core Industries (ICI) Growth Rises 5% in June 2026 Under Revised 2022-23 Base Year Series

Key facts

• The Index of Core Industries (ICI) grew 5% year-on-year in June 2026, compared to 3.2% in May 2026.
• The June 2026 data is the first release under the revised base year of 2022-23, replacing the earlier 2011-12 base year.
• The revised ICI now includes nine core industries, with iron ore added as a new constituent.
• Iron ore production recorded the highest growth at 43.9% year-on-year in June 2026.
• Cement and electricity output each grew 9.8% year-on-year in June 2026.
• Natural gas production declined 7.4%, refinery products fell 4.7%, crude oil output dropped 4.2%, and fertiliser production slipped 3.3% in June 2026.
• The cumulative growth of the ICI for April-June 2026 stood at 3.6%, compared to 1% in the same period of the previous year.
• Methodological changes include using gross production for the steel index and retaining only raw coal in the coal index to avoid double counting.