India launches a modernised Index of Industrial Production with 2022-23 base year
The Ministry of Statistics and Programme Implementation (MoSPI) has launched a modernised All-India Index of Industrial Production (IIP) series, revising the base year from 2011-12 to 2022-23, in the 10th such revision, to make the index more representative of the current structure and dynamics of the industrial sector. The new series broadens coverage by including minor minerals, rare-earth minerals, gas supply, water supply and sewerage, and waste management, and adds around 120 new items such as CCTV cameras and vaccines to the item basket while retiring obsolete products. The base year 2022-23 was chosen as a recent post-pandemic year with comprehensive and reliable data. The first release under the new base series showed industrial output growing 4.9% year-on-year in April 2026. The overhaul is intended to give a more accurate picture of India's industrial growth.
Key Facts & Details
8 points- 1MoSPI launched a new IIP series with base year revised from 2011-12 to 2022-23 (the 10th revision).
- 2Coverage expands to minor minerals, rare-earth minerals, gas supply, water supply, sewerage and waste management.
- 3Around 120 new items, such as CCTV cameras and vaccines, were added to the basket.
- 4The 2022-23 base was chosen as a recent post-pandemic year with reliable data.
- 5Under the new series, industrial output grew 4.9% year-on-year in April 2026.
Deep Dive
- +Updating the base year keeps the item basket and weights representative of the current economy.
- +Obsolete products are dropped as new-economy items are added.
- +Broader sectoral coverage improves the accuracy of the industrial-growth measure.
Exam Focus
What is the new base year of the revised Index of Industrial Production (IIP)?
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Exam Relevance & Angle
The IIP is a key economic indicator regularly tested in banking, SSC and UPSC exams, and the new base year, the expanded coverage and the conducting body (MoSPI) are precisely the facts examiners convert into direct questions.
Target Exams
Background & Context
The Index of Industrial Production (IIP) is a composite indicator compiled and released monthly by the National Statistical Office under the Ministry of Statistics and Programme Implementation (MoSPI) that measures the short-term changes in the volume of production of a basket of industrial products relative to a chosen base year. It is structured along two classifications: sectoral (mining, manufacturing and electricity) and use-based (primary goods, capital goods, intermediate goods, infrastructure/construction goods, consumer durables and consumer non-durables), which together help analysts read the health and composition of industrial activity. The base year is periodically revised, here for the 10th time to 2022-23, so that the items included and their weights reflect the current production structure; over time some products become obsolete and new ones (like CCTV cameras and vaccines) gain importance. As a high-frequency indicator, the IIP feeds into GDP estimation and policy analysis, which is why its methodology and headline growth numbers attract close attention.
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Must KnowTest Yourself
1 / 2The modernised Index of Industrial Production (IIP) series adopts which base year?
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