Index of Core Industries (ICI)

The Office of Economic Adviser (OEA), Department for Promotion of Industry and Internal Trade (DPIIT)  has launched the revised Index of Core Industries (ICI) series with base year 2022–23, replacing the earlier 2011–12 series. The revised index expands the number of core industries from eight to nine, updates sectoral weights and methodology, and the June 2026 data is the first monthly release based on the new series.
What is the Index of Core Industries (ICI)?
•    The Index of Core Industries (ICI) is a monthly index that measures the production performance of India's core infrastructure industries. 
•    It serves as an early indicator of industrial activity and provides a broad assessment of the health of the Indian economy. 
•    The ICI is compiled and released by the Office of Economic Adviser (OEA) under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry. 
•    The index is released on the 20th of every month (or the next working day) for the preceding month.
Core Industries Covered
The revised ICI (Base Year 2022–23) covers nine core industries instead of the previous eight industries:
1.    Coal 
2.    Crude Oil 
3.    Natural Gas 
4.    Refinery Products 
5.    Fertilisers 
6.    Steel 
7.    Cement 
8.    Electricity 
9.    Iron Ore (newly included) 
Why was the ICI revised?
The revised series aims to make the index more representative of the present-day economy by updating its base year, improving sector coverage and refining the methodology.
The major changes include:
•    Base Year revised from 2011–12 to 2022–23. 
•    Iron Ore has been added as the ninth core industry because of its crucial role in industrial production, especially steel manufacturing. 
•    The Steel Index is now based on gross production instead of net production, making it consistent with the Index of Industrial Production (IIP). 
•    Only Raw Coal is included in the Coal Index, while Coal Middling and Washed Coal have been excluded to eliminate double counting. 
•    Sectoral weights have been revised based on the updated IIP (2022–23) weights. 
Sectoral Weight Changes
The revised weights reflect structural changes in the Indian economy.
•    The weight of Electricity has increased significantly from less than 20% in the previous series to more than 30%, highlighting the growing importance of electricity generation and rising demand, including the expansion of renewable energy. 
•    The weights of Coal and Natural Gas have nearly halved to approximately 5.6% and 3.8%, respectively. 
•    The inclusion of Iron Ore has further altered the overall distribution of sectoral weights.