Core Industries Rise 1.7% In April 2026, Cement Posts Strongest Growth

The Index of Eight Core Industries (ICI) recorded a growth of 1.7% (provisional) in April 2026 compared to the same month last year, according to data released by the Ministry of Commerce & Industry. The performance was driven mainly by strong output in construction-linked sectors, while energy-related industries showed weakness.

Among all sectors, cement emerged as the fastest-growing industry , registering a sharp rise of 9.4% year-on-year , reflecting sustained demand from infrastructure and housing activity across the country. The steel sector grew by 6.2% , supported by ongoing industrial expansion and government-backed infrastructure projects. Electricity generation increased by 4.1% , indicating stable power demand from both industrial and commercial users.

However, several core energy sectors contracted during the month. Coal production fell by 8.7% , while fertilizer output declined by 8.6% . Natural gas production dropped by 4.3% , and crude oil production decreased by 3.9% . Refinery products also slipped marginally by 0.5% , indicating subdued performance in the energy value chain.

The Eight Core Industries coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity carry a combined weight of 40.27% in the Index of Industrial Production (IIP) , making them a key indicator of overall industrial activity in the economy.

On a cumulative basis, the ICI grew by 2.7% during April 2025 to March 2026 , compared to the corresponding period of the previous financial year. The final growth rate for March 2026 was revised to 1.2% , showing moderate but steady expansion.

Overall, the data highlights a mixed industrial trend: strong momentum in construction-driven sectors like cement and steel, balanced against contraction in key upstream energy inputs. Cement’s strong performance makes it the standout contributor to April’s industrial growth, while the weakness in coal, oil, and gas continues to weigh on the energy segment.