India’s Office of Economic Adviser (OEA) under the Department for Promotion of Industry and Internal Trade (DPIIT) has launched the revised Index of Core Industries (ICI) series with a new base year of 2022-23, replacing the previous 2011-12 series. The first release under the new series includes the provisional ICI data for June 2026, while the back series from April 2023 onward has been made available on the OEA portal.
The revised ICI now covers nine core industries after the inclusion of Iron Ore, reflecting its growing role in industrial production. The Steel index will now be compiled using gross production data instead of net production to align with the Index of Industrial Production (IIP). The new series also retains only Raw Coal, excluding Coal Middling and Washed Coal to avoid double counting.
According to the new methodology, the weights have been derived from the corresponding items in the IIP 2022-23 series and distributed proportionately to 100. The overall linking factor between the old ICI series (2011-12) and the new ICI series (2022-23) has been calculated at 1.47. The previous ICI series has been discontinued, and the July 2026 index will be released on August 20, 2026.
The Index of Core Industries grew 5.0% year-on-year in June 2026, according to provisional estimates, improving from the revised growth of 3.2% recorded in May 2026. Iron Ore, Electricity, Cement, Steel, and Coal recorded annual growth of 43.9%, 9.8%, 9.8%, 4.6%, and 1.4%, respectively, while Natural Gas, Crude Oil, Refinery Products, and Fertilizers registered negative growth during the month.
Iron Ore and Electricity remained the biggest contributors to overall ICI growth in recent months. On a cumulative basis, the Index of Core Industries expanded 3.6% during April-June 2026, compared with 1.0% growth in the corresponding period of the previous year.
The government said provisional ICI data for a reference month will continue to be released on the 20th of the following month, or the next working day if the 20th is a holiday. The June 2026 release marks the beginning of the new 2022-23 base year series.
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