The Index of Eight Core Industries (ICI) for October 2025 was released by the Ministry of Commerce and Industry. The provisional combined index remained unchanged at 162.4 compared with October 2024, giving 0.0% provisional growth. The eight core industries are Coal, Crude Oil, Natural Gas, Petroleum Refinery Products, Fertilizers, Steel, Cement and Electricity, and together they comprise 40.27% of the weight of items in the Index of Industrial Production.

In October 2025, Fertilizer, Steel, Cement and Petroleum Refinery Products recorded positive growth, while Coal (declined 8.5%), Crude Oil (declined 1.2%), Natural Gas (declined 5.0%) and Electricity declined. Therefore, any statement that cement and steel contracted is incorrect; the drag came from coal, crude oil, natural gas and electricity. The final growth rate for September 2025 was 3.3%, and the cumulative April-October 2025-26 growth was 2.5% (provisional).