India's Eight Core Industries Performance for May 2026
The Ministry of Commerce & Industry released the Index of Eight Core Industries (ICI) for May 2026, showing minimal growth of just 0.5% year-over-year. This represents a significant slowdown from the revised 1.8% growth recorded in April 2026. The eight core industries, which carry a combined weight of 40.27% in the Index of Industrial Production (IIP), displayed mixed performance with only three sectors showing positive growth.
Sector-wise Performance Breakdown
Steel production (17.92% weight) increased by 5.0% in May 2026 compared to May 2025, while cement production (5.37% weight) grew by 8.4% and electricity generation (19.85% weight) showed strong growth of 8.7%. However, these gains were offset by significant declines in other sectors: coal production (10.33% weight) decreased by 9.3%, crude oil production (8.98% weight) declined by 4.6%, natural gas production (6.88% weight) fell by 4.9%, petroleum refinery production (28.04% weight) dropped by 8.7%, and fertilizer production (2.63% weight) declined by 0.9%.
Cumulative Performance and Historical Context
The cumulative growth rate for the April-May 2026-27 period stood at 1.1% compared to the same period last year. The overall index reached 171.0 in May 2026 (provisional), up from 170.2 in May 2025. Historical data shows the index has grown from a base of 100 in 2011-12 to 169.4 in 2025-26, with the current reading representing continued expansion despite the monthly slowdown.
Methodological Notes and Future Releases
The data for April 2026 is final while the May 2026 figures are provisional and subject to revision. The index includes electricity generation from renewable sources since April 2014 and incorporates Hot Rolled Pickled and Oiled (HRPO) steel products since March 2019. The next release for June 2026 is scheduled for Monday, July 20, 2026.