Overall Core Sector Growth Context: The combined Index of Eight Core Industries (ICI) declined by 0.4 per cent (provisional) in March, 2026 as compared to the Index in March, 2025. The production of Fertilizers, Crude Oil, Coal and Electricity recorded negative growth in March, 2026.March 2026 Performance 4 out of 8 sectors contracted compared to March 2025. Weak performance driven by high base effect and external disruptions (e.g., West Asia crisis). Fertiliser Sector Decline Output plunged 24.6% YoY in March 2026. Caused by input shortages due to geopolitical tensions. Annual growth: –0.1% in 2025–26, down from 2.9% in 2024–25. Electricity Sector Weakness Contracted 0.5% in March 2026 (high base effect from 7.5% growth last year). Annual growth slowed to 0.9% (from 5.2%). Construction-Linked Sectors Slow Steel growth fell to 2.2% (18-month low). Cement growth dropped to 4% (17-month low). Suggests slowdown in construction activity. Natural Gas Shows Strength Grew 6.4% in March 2026. Boosted by government push to increase output amid supply constraints. Crude Oil Continues Decline Contracted 5.7% in March 2026. Marks the 7th consecutive month of contraction. Coal and Refinery Products Coal sector: Declined 4% in March 2026. Refinery products: Marginal growth of 0.1%. Index of Industrial Production (IIP) The Index of Industrial Production (IIP) is a key economic measure that tracks short-term fluctuations in the output of industrial goods in India. It provides an overview of how the industrial sector is performing, covering areas such as manufacturing, mining, and electricity generation. Published by: National Statistical Office under the Ministry of Statistics and Programme Implementation (MoSPI), Government of India Base Year: 2011–12 Coverage: Includes three main sectors—Mining, Manufacturing, and Electricity Objective: Used to assess industrial performance, support policy formulation, and serve as an early signal of economic trends Frequency: Released every month Assists in evaluating sector-wise growth, understanding…
