The Ministry of Statistics and Programme Implementation (MoSPI) on May 25, 2026, issued Press note on release of the Report of the Technical Advisory Committee on Base Year Revision of the All-India Index of Industrial Production from 2011-12 to 2022-23.
The Ministry of Statistics and Programme Implementation (MoSPI) has released the report of the Technical Advisory Committee (TAC) on revising the base year of the All-India Index of Industrial Production (IIP). The committee, constituted in September 2024 under the chairmanship of Dr. Mridul K. Saggar, undertook extensive consultations through meetings, discussion papers, and stakeholder workshops to improve the methodology, accuracy, and relevance of the IIP series.
The revised IIP series adopts 2022–23 as the new base year and significantly expands coverage by including sectors such as minor minerals, rare earth minerals, gas supply, water supply, and waste management. The item basket has been updated to include 1,042 products across 463 item groups, aligned with NIC-2025, ensuring better representation of current industrial activity. Greater granularity has also been introduced through sub-indices, including renewable vs. non-renewable electricity and detailed mining classifications.
Methodological improvements include replacing closed or non-representative factories with comparable units and adding newly operational large-scale units to maintain data relevance. The series will also adopt a geometric mean method to link the old (2011–12) and new (2022–23) base series, ensuring continuity and comparability of industrial production data.
Overall, the revised IIP framework aims to provide a more comprehensive, dynamic, and accurate measure of industrial performance in India, reflecting structural changes in the economy.
[Release ID: 2264966]
