Office of Economic Adviser to Release Revised Index of Core Industries Series with Base Year 2022-23

📌 Summary:

• The Office of Economic Adviser (OEA), DPIIT, will release the revised Index of Core Industries (ICI) with base year 2022-23 on 20 July 2026, replacing the existing 2011-12 base-year series
• The release includes the provisional ICI for June 2026 plus a back series from April 2023 to May 2026 (38 months)
• Weights for the ICI (2022-23) are derived from the IIP 2022-23 weights (MoSPI), redistributed pro-rata to total 100
• Iron Ore has been added as a core industry given its heavy industrial use, raising the number of core industries from eight to nine
• Steel Index now uses gross (not net) production for IIP consistency; in Coal, only Raw Coal is retained (Coal Middlings and Washed Coal excluded to avoid double counting)

🎯 UPSC Relevance: GS3 — industrial performance measurement, index methodology and base-year revision as tools of economic monitoring.

📝 Prelims Facts:

• ICI is compiled monthly by the Office of Economic Adviser, DPIIT (Ministry of Commerce & Industry)
• Revised base year: 2022-23 (from 2011-12); core industries increased from 8 to 9 with Iron Ore added
• The eight (now nine) core industries feed into the Index of Industrial Production (IIP)

🔑 Key Term: Index of Core Industries (ICI) — a monthly index tracking output of key infrastructure/core industries (coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, electricity, and now iron ore).