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Core Industries Grow 2.3% in Feb 2026; Steel & Cement Lead Gains

The Index of Eight Core Industries registered a growth of 2.3% in February 2026 compared to the same month last year. Key drivers were cement, steel, fertilizers, coal, and electricity, which all recorded positive production increases. However, the output of crude oil, natural gas, and refinery products declined during the same period. The cumulative growth rate for the April to February period of the 2025-26 fiscal year stands at 2.9%.

Key Points: Core Industries Index Grows 2.3% in February 2026

  • Overall index grew 2.3% in Feb 2026
  • Steel and cement saw robust growth over 7%
  • Crude oil and natural gas production declined
  • Cumulative growth for Apr-Feb stands at 2.9%
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Index of eight core industries post 2.3% growth for February 2026

India's eight core sectors grew 2.3% in Feb 2026. Steel and cement saw strong growth, while crude oil and natural gas production declined.

"The cumulative growth rate of ICI during April to February, 2025-26 is 2.9 per cent - Ministry of Commerce & Industry"

New Delhi, March 20

The combined Index of Eight Core Industries increased by 2.3 per cent in February 2026 as compared to the Index in February 2025.

As per a press release by the Ministry of Commerce & Industry, the production of Cement, Steel, Fertilisers, Coal and Electricity recorded positive growth in February 2026.

The ICI measures the combined and individual performance of production of eight core industries, viz. coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

"The final growth rate of Index of Eight Core Industries for January 2026 was observed at 4.7 per cent. The cumulative growth rate of ICI during April to February, 2025-26 is 2.9 per cent (provisional) as compared to the corresponding period of last year," the release said.

For the coal industry, the production (weight: 10.33 per cent) increased by 2.3 per cent in February 2026 over February, 2025. Its cumulative index has remained unchanged at 185.8 during April to February, 2025-26, over the corresponding period of the previous year.

Crude Oil production (weight: 8.98 per cent) declined by 5.2 per cent in February 2026 over February 2025. Its cumulative index declined by 2.5 per cent during April to February, 2025-26 over corresponding period of the previous year.

The Natural Gas production (weight: 6.88 per cent) declined by 5.0 per cent in February, 2026 over February, 2025. Its cumulative index declined by 3.5 per cent during April to February, 2025-26 over corresponding period of the previous year.

Meanwhile, Petroleum Refinery production (weight: 28.04 per cent) declined by 1.0 per cent in February, 2026 over February, 2025. Its cumulative index declined by 0.1 per cent during April to February, 2025-26 over corresponding period of the previous year.

Fertilizer production (weight: 2.63 per cent) increased by 3.4 per cent in February, 2026 over February, 2025. Its cumulative index increased by 2.0 per cent during April to February, 2025-26 over corresponding period of the previous year.

The steel production (weight: 17.92 per cent) increased by 7.2 per cent in February, 2026 over February, 2025. Its cumulative index increased by 9.7 per cent during April to February, 2025-26 over corresponding period of the previous year.

Cement production (weight: 5.37 per cent) increased by 9.3 per cent in February, 2026 over February, 2025. Its cumulative index increased by 9.2 per cent during April to February, 2025-26 over corresponding period of the previous year.

Lastly, electricity generation (weight: 19.85 per cent) increased by 0.5 per cent in February, 2026 over February, 2025. Its cumulative index increased by 0.9 per cent during April to February, 2025-26 over corresponding period of the previous year.

- ANI

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Reader Comments

S
Sarah B
The overall 2.3% is positive, but the declines in crude oil (-5.2%) and natural gas (-5.0%) are concerning. We need to focus more on energy security and reducing our import dependence. The growth in coal and electricity is a small relief.
P
Priya S
As someone from a farming family, I'm happy to see fertilizer production up by 3.4%. This is crucial for the upcoming Kharif season. Stable supply and prices are what we need. Good news for agriculture! 🙏
M
Michael C
The data is a mixed bag. While steel and cement are booming, the heavyweight refinery products sector (28% weight!) is still in decline. The cumulative growth of 2.9% for Apr-Feb seems modest. We should aim for more consistent, broad-based growth.
A
Ananya R
The electricity generation growth is only 0.5%? With summers approaching, this is worrying. We need massive investments in renewable energy to meet the rising demand and keep industries running without power cuts.
V
Vikram M
Steel at 7.2% and Cement at 9.3% growth! This shows the government's push for highways, railways, and housing is having an effect. The core sectors are the backbone of the economy. Keep it up!

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