Index of Core Industries set to get an upgrade with revised base year and weights
The Indian Ministry of Commerce and Industry is updating the Index of Core Industries (ICI) with a new base year of 2022-23 and an expanded list of sectors. The revision aims to better reflect current industrial performance by including iron ore and adjusting calculation methodologies for steel and coal.
Why it matters
Updating economic metrics is crucial for accurate policy-making and tracking India's industrial growth trajectory in a changing global economy.
The Ministry of Commerce and Industry will on July 20 release an updated Index of Core Industries (ICI) with a new base year of 2022-23 and recalibrated industries and weightages.
With this, all of India’s main economic metrics — capturing its national accounts, inflation levels, and industrial performance — will have been updated and upgraded.
The revised series will replace the existing ICI series which has a base year of 2011-12. The release on July 20 will include the provisional ICI for June 2026 along with the back series from April 2023 to May 2026.
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