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DPIIT revises Core Industries Index with 2022-23 as base year, adds iron ore to basket

18 Jul 2026 Evaluate

The Office of the Economic Adviser (OEA) under the Department for Promotion of Industry and Internal Trade (DPIIT) is all set to release the revised series of the Index of Core Industries (ICI) with 2022-23 as the base year on July 20, 2026. The revised series will replace the existing 2011-12 base year series. Compiled on a monthly basis, the new release will include the provisional ICI for June 2026 along with the back series from April 2023 to May 2026, covering 38 months.

As per the established methodology, the weights for the ICI (2022-23) series have been derived from 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, sourced from the IIP, have been redistributed on a pro-rata basis to total 100 for finalising the weights of the revised ICI basket.

In view of its extensive use across industries and its significant contribution to industrial development, iron ore has been included as a core industry in the revised ICI series. As a result, the number of core industries has increased from eight to nine. To align the ICI with the IIP methodology, the revised series uses gross production data for compiling the Steel Index, replacing the net production data used in the 2011-12 series. In the coal sector, only Raw Coal has been retained in the revised ICI series, while Coal Middlings and Washed Coal have been excluded to eliminate double counting, as both are derived from Raw Coal.

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