India’s Index of Core Industries (ICI) has been updated with a new series that is more current and representative. The revision matters because the ICI is one of India’s key high-frequency indicators of industrial activity and feeds wider discussion on economic momentum, energy demand, and the health of the mining and manufacturing base.
What changed in the Index of Core Industries
The June release of the ICI uses a revised structure with an updated base year, broader sector coverage, and changed weights and methods. The revision also follows earlier upgrades in major macroeconomic indicators such as national accounts, the Consumer Price Index (CPI), the Wholesale Price Index (WPI), and the Index of Industrial Production (IIP).
The most visible structural change is the expansion of the index from eight sectors to nine sectors with the inclusion of iron ore. Measurement refinements in steel and coal were introduced to reduce earlier double-counting.
Why the revised weights matter
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