**Executive Summary**
The Office of Economic Adviser (OEA) will release a revised Index of Core Industries (ICI) series with the base year 2022–23 on 20 July 2026 at 5:00 PM. This update replaces the 2011–12 series and expands the number of core industries from eight to nine by including Iron Ore. The release will provide the provisional index for June 2026 along with a 38-month back series from April 2023 to May 2026.
**Key Points / Main Content**
**Series Revision and Coverage**
* **Base Year Update:** The ICI base year shifts from 2011–12 to 2022–23 to reflect the modern industrial structure.
* **Data Scope:** The release includes the provisional index for June 2026 and a comprehensive back series covering April 2023 to May 2026.
**Industry Expansion and Weighting**
* **Inclusion of Iron Ore:** Iron Ore is now categorized as a core industry, increasing the total count from eight to nine industries.
* **Weight Distribution:** Weights are derived from the Index of Industrial Production (IIP) 2022–23 and redistributed on a pro-rata basis to total 100 for the ICI basket.
**Methodological Changes**
* **Steel Sector:** The Steel Index now uses gross production data instead of net production data to maintain consistency with the IIP.
* **Coal Sector:** Only Raw Coal is retained in the revised series; Coal Middlings and Washed Coal are excluded to prevent double counting.
**Impact Analysis**
**Industrial Researchers and Economists**
* **Impact:** They will have access to more accurate and representative data that aligns with current industrial production trends.
* **Action Required:** Users must update their databases and economic models to reflect the new base year and the inclusion of Iron Ore.
**Office of Economic Adviser (OEA) / DPIIT**
* **Impact:** Responsible for the transition from the old series to the new methodology and ensuring data consistency with MoSPI.
* **Action Required:** Must release the revised series and the 38-month back series on the scheduled date of 20 July 2026.
**Steel and Coal Sector Stakeholders**
* **Impact:** Reporting and tracking for these sectors are modified, specifically regarding gross production for steel and the exclusion of derived coal products.
* **Action Required:** Relevant entities must align their production reporting with the new requirements of gross production (Steel) and Raw Coal focus (Coal).
Key Entities Referenced
Index of Core Industries (ICI): A monthly production index revised to a new base year (2022–23) and expanded to include nine core industries.
Office of Economic Adviser (OEA): The office within the DPIIT responsible for compiling and releasing the revised Index of Core Industries series.
Department for Promotion of Industry and Internal Trade (DPIIT): The nodal department under the Ministry of Commerce & Industry that oversees the release of the revised ICI series.
Index of Industrial Production (IIP): The statistical series from which the production weights and methodology for the revised ICI basket are derived.
Ministry of Statistics and Programme Implementation (MoSPI): The ministry responsible for releasing the IIP (2022–23) series, which serves as the data foundation for the revised ICI weights.
Ministry of Commerce & Industry
Office of Economic Adviser to Release Revised
Index of Core Industries Series with Base Year
2022–23
Revised ICI Release to Include Provisional Index for June
2026 and Back Series from April 2023 to May 2026
Revised ICI Series Expands Core Industries to Nine with
Inclusion of Iron Ore
प्रव तथ: 17 JUL 2026 3:43PM by PIB Delhi
The Office of Economic Adviser (OEA), Department for Promotion of Industry and Internal Trade
(DPIIT), will release the revised series of the Index of Core Industries (ICI) with the base year 2022–23 on
20 July 2026 at 5:00 PM. The revised series will replace the existing ICI series with the base year 2011–
12.
The ICI is compiled on a monthly basis. The release will include the provisional ICI for June 2026 along
with the back series from April 2023 to May 2026 (38 months).
As per the established methodology, the weights for the ICI (2022–23) series have been derived from the
weights of the Index of Industrial Production (IIP) 2022–23 series released by the Ministry of Statistics
and Programme Implementation (MoSPI). The weights of the ICI basket items, drawn from the IIP, have
been redistributed on a pro-rata basis to total 100 for finalising the weights of the ICI item basket.
In view of the extensive use of iron ore in industrial production and its significant contribution to
industrial development, Iron Ore has been included as a core industry in the revised ICI series.
Consequently, the number of core industries has increased from eight to nine.
To ensure consistency with the IIP, the revised ICI series uses gross production data for compiling the
Steel Index, replacing the net production data used in the ICI (2011–12) series.
In the Coal sector, only Raw Coal has been retained in the revised ICI series. Coal Middlings and Washed
Coal have been excluded to eliminate double counting, as both are derived from Raw Coal.
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Abhishek Dayal/ Garima Singh/ Ishita Biswas
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