The government will launch the revised Index of Core Industries (ICI) series with the new base year 2022–23 on July 20. The updated index will now track nine core industries, with Iron Ore being added for the first time.
Highlights
- Revised ICI series to be released on July 20, 2026.
- Base year updated from 2011–12 to 2022–23.
- Iron Ore added as the ninth core industry.
- June 2026 provisional ICI and back series to be released together.
- Steel Index will now use gross production data.
- Coal Middlings and Washed Coal removed from the index.
The Office of Economic Adviser (OEA) under the Department for Promotion of Industry and Internal Trade (DPIIT) will release the revised Index of Core Industries (ICI) with the new base year 2022–23 on July 20, 2026, at 5:00 PM.
The revised series will replace the existing ICI series that uses 2011–12 as the base year. Along with the provisional index for June 2026, the government will also publish a back series covering April 2023 to May 2026, ensuring continuity in data for analysts and policymakers.
One of the biggest changes in the revised index is the inclusion of Iron Ore as a core industry. With this addition, the number of core industries tracked under the ICI will increase from eight to nine. The government said Iron Ore has been included because of its growing importance in industrial production and its significant contribution to India’s manufacturing and infrastructure sectors.
The revised index has been aligned with the Index of Industrial Production (IIP) 2022–23 released by the Ministry of Statistics and Programme Implementation (MoSPI). The weights assigned to each core industry have been derived from the latest IIP and redistributed proportionately so that the total weight equals 100.
Another major revision relates to the Steel Index. Instead of using net production data, the revised series will now use gross production data, bringing the methodology in line with the IIP.
Changes have also been made in the Coal sector. Only Raw Coal will remain part of the core industries basket, while Coal Middlings and Washed Coal have been removed. According to the government, this change has been made to eliminate double counting because both products are derived from Raw Coal.
The Index of Core Industries is released every month and measures the performance of industries that form the backbone of the Indian economy. These sectors have a significant weight in the overall Index of Industrial Production and provide an early indication of industrial activity.
The revised series is expected to present a more accurate picture of India’s industrial performance by reflecting the latest production patterns and economic structure.
