Key Highlights of the Revised Index of Core Industries (ICI)
The Office of Economic Adviser (OEA) under the Department for Promotion of Industry and Internal Trade (DPIIT) will publish a revised series of the ICI with a base year 2022‑23 on 20 July 2026 at 5:00 PM. This replaces the older series that used the 2011‑12 base.
Key Developments
- Provisional ICI for June 2026 will be released together with a back‑series covering April 2023 to May 2026 (38 months).
- Weightage for the new ICI is derived from the IIP 2022‑23 series released by the Ministry of Statistics and Programme Implementation (MoSPI).
- Iron Ore is added as a core industry, expanding the count from eight to nine sectors.
- The Steel Index will now use gross production data, aligning it with the IIP methodology.
- In the coal segment, only Raw Coal is retained; coal middlings and washed coal are removed to prevent double counting.
Important Facts
The revised ICI follows a strict methodology: weights of basket items are taken from the IIP, then redistributed on a pro‑rata basis so that the total equals 100 %. This ensures that the index reflects current industrial structure and production patterns.
By adding Iron Ore, the index now captures a sector that contributes significantly to steel output and overall industrial growth.
Exam Relevance
Understanding the ICI is crucial for GS‑3 (Economy) as it serves as a leading indicator of industrial performance, influencing policy decis