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News: The Union Government has released an updated series of its Index of Core Industries (ICI).
About Updated Index of Core Industries (ICI)
- Index of Eight Core Industries(ICI) measures combined and individual performance of production of eight (now nine) core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.
- Updated Version Recommended by: The new changes made in the ICI are based on the recommendations of a committee constituted under the chairmanship of Praveen Mahto in November 2025.
- Changes made:
- Expansion of the Index of Core Industries (ICI): In the updated Index of Core Industries (ICI) the number of core industries increased to nine following the inclusion of iron ore to the existing eight – coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity.
- Revision in Steel Index Compilation: Gross production data has been used for compilation of the Steel index in the new ICI series, replacing the use of net production data in ICI (2011-12) series, to make it consistent with Index of Industrial Production (IIP)
- Rationalization of Coal Coverage: Only Raw Coal has been retained in the new series of ICI, by excluding Coal Middling and Washed Coal in order to remove double counting.
- Methodology for Weight Assignment: Following the earlier practice, the weights of the ICI (2022–23) series have been derived from the weights of the corresponding items of IIP (2022–23) series, which have been pro-rata distributed to 100.
- In line with the methodology, used for derivation of Linking Factor in IIP (2022-23) series, the linking factor between ICI (2011-12) and ICI (2022-23) series has also been calculated using the following formula: –
- Linking Factor= Geometric Mean of the monthly ICI of old series for 2022-23/ Geometric Mean of the monthly ICI of new series for 2022-23
- Accordingly, Linking Factor for Overall Index of Core Industries is 1.47.
- The users may calculate the linking factor for the respective sectors by applying the same formula.
