India's Index of Core Industries (ICI) rose 7.9% in September 2026, its best performance since the new data series started in April 2024. Coal expanded 10.7%, its strongest growth in 13 months, refinery products 10.3% and iron ore 18.4%. Electricity grew 11.4%, cement 9.8% and steel 4.9%. On the other hand, crude oil shrank 1.4%, natural gas 4.6% and fertilisers 11.7%, the last declining for a seventh month in a row. The ICI measures the output of eight core sectors: coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.