DPIIT’s OEA Released Revised Series of Index of Core Industries with Base Year 2022-23

Key facts

• The Office of Economic Adviser (OEA) under the Department for Promotion of Industry and Internal Trade (DPIIT) released the revised Index of Core Industries (ICI) series with 2022-23 as the new base year on July 20, 2026.
• The revised ICI includes iron ore as the ninth core industry, expanding the basket from eight to nine sectors.
• The weights for the revised ICI series have been aligned with the 2022-23 series of the Index of Industrial Production (IIP).
• The Steel Index will now use gross production data instead of net production data to ensure consistency with the IIP.
• For coal, only raw coal has been retained in the ICI basket, while coal middlings and washed coal have been excluded to avoid double counting.
• The release includes a back series covering 38 months from April 2023 to May 2026, along with the provisional ICI for June 2026.