New Index of Core Industries to Launch in July 2026
The Office of Economic Adviser (OEA) under the Department for Promotion of Industry and Internal Trade (DPIIT) is set to unveil a revised series of the Index of Core Industries (ICI). Scheduled for release on July 20, 2026, at 5:00 PM, this new index will update the existing ICI series, which currently uses the base year of 2011–12.
The revised ICI, based on the year 2022–23, will include updated data reflecting the industrial landscape. This release will feature provisional ICI figures for June 2026 and will also provide a back series of data spanning from April 2023 to May 2026, covering a total of 38 months.
Changes and Methodology
In constructing the new ICI series, weights were carefully derived from the Index of Industrial Production (IIP) for the year 2022–23, as published by the Ministry of Statistics and Programme Implementation (MoSPI). The weights applied to items within the ICI basket have been adjusted on a pro-rata basis to ensure they total 100, reflecting the current industrial composition.
Expansion of Core Industries
A notable addition to the new ICI series is Iron Ore, which has been included as a core industry in light of its immense role in supporting industrial production and development. This update marks an increase in the number of core industries from eight to nine, emphasizing the importance of raw materials in the index.
Adjustments in the Steel and Coal Sectors
To maintain coherence with the IIP, the Steel Index within the revised ICI will now utilize gross production data instead of net production data, which was part of the previous ICI series. This shift aims to provide a more accurate representation of the steel sector’s contribution to the industrial economy.
In the Coal industry, the revised ICI series will continue to include only Raw Coal. Coal Middlings and Washed Coal have been excluded to prevent instances of double counting, as these products are derived from Raw Coal. This adjustment reflects a more accurate understanding of the coal industry’s output in relation to core industrial activities.
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