In order to acquaint users with the updated IIP 2022-23 series prior to its formal launch on June 1, the government released a comprehensive report of the Technical Advisory Committee on Base Year Revision of the All-India Index of Industrial Production (TAC-IIP) on Monday.
In the first publication of the new series, index values beginning in April 2023 (including the Quick Estimates for April 2026) will be presented.
Officials from India’s Ministry of Statistics and Programme Implementation have announced that the updated IIP will include not only the All-India General Index but also mining and quarrying, manufacturing, electricity and gas supply, water supply, sewerage and waste management, and electricity and gas stock sector indices.
Additionally, use-based classification indices, linkage factors, and manufacturing indices at the 2-digit NIC-2025 level will be part of the June 1 release.
According to the ministry, the redesigned item basket and weight structure take into account the reality of today’s industry by incorporating new, relevant products and eliminating old, irrelevant ones. A total of 1,042 items distributed over 463 distinct categories make up the new basket.
New sub-indices allow for a finer breakdown of industries in the revised series, which is in line with the National Industrial Classification (NIC-2025). Electricity from renewable and non-renewable sources are tracked separately in these statistics.
There are now three subsegments within the mining and quarrying industry: fuel minerals, metallic minerals (including rare earth minerals), and non-metallic minerals (including minor minerals).
Newly commissioned large-scale factories making key items are included in the updated framework, along with methodological enhancements such as the replacement of permanently shuttered factories or units with altered production lines by comparable facilities.
Linking factors will be computed at both the general and sectoral levels, according to the government. The new series will utilise the Geometric Mean approach to connect the 2011–12 and 2022–23 IIP series.
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