With the net addition of 56 new item groups, the Statistics Ministry will release the first monthly industrial growth data based on the Index of Industrial Production (IIP) under the new series on Monday.
The new series will have a base year of 2022-23, against 2011-12. This is the 10th revision of the base year of the All India IIP. The first IIP was prepared with the base year 1937, and thereafter the base year was revised successively to 1946, 1951, 1956, 1960, 1970, 1980-81, 1993-94, 2004-05 and 2011-12. Meanwhile, despite the new look, data for a particular month will continue to be released on the 28th day of the following month at 4 pm.
According to the Ministry, a total of 64 item groups have been dropped. These include kerosene, fluorescent tubes and CFLs, tubes for bicycle/tricycle/rickshaw tyres, tubes for LMV tyres, printing machinery and sewing machines, among others. At the same time, 120 new item groups have been added. These include cards with a magnetic stripe (e.g. debit cards, credit cards), CCTV cameras, articles of non-woven textiles, parts of aircraft and spacecraft, stents, and vaccines (other than veterinary).
Electricity generation through renewable sources has been separately identified in the new IIP series. With this, the total number of item groups in the new series will be 463, as against 405 in the existing series. “An expanded item basket improves representativeness, captures diversification in industrial production, and reflects emerging industrial products and technologies,” the Ministry said.
There is no change in the number of categories of use-based goods, and it will remain at six. These include Primary Goods (ores and minerals, fuels), Capital Goods (plant and machinery such as boilers, air and gas compressors, tractors, transformers, commercial vehicles and machinery such as textile machinery), Intermediate Goods (cotton yarn, plywood, steel tubes/pipes, fasteners, parts of automobiles, etc.), Infrastructure/Construction Goods (paints, cement, cables, bricks and tiles, rail materials, etc.), Consumer Durable Goods (pressure cookers, air conditioners, tyres, telephone and mobile instruments, TV sets, passenger cars, two-wheelers, gold jewellery, etc.), and Consumer Non-Durable Goods (edible oils, milk, milk powder, wheat flour, rice, biscuits/cookies, sugar, tea, coffee, medicines, etc.).
The new series retains the existing sectors of Mining, Manufacturing and Electricity. However, it expands the scope by including Gas Supply and Water Supply, Sewerage and Waste Management activities, providing a broader and more accurate picture of industrial production. In the Mining sector, the new series also includes minor minerals and rare earth minerals along with major minerals.
Talking about the preferred price deflator, the Ministry said that at present the Wholesale Price Index (WPI) is being used as the deflator for value-based items. After the release of the Output Producer Price Index (Output PPI), the same will be utilised after examining its stability. While the WPI captures the average movement of wholesale prices of goods and is primarily used as a GDP deflator, the Output PPI measures the average change over time in the selling prices received by domestic producers for their output.
The new series also has a provision for the substitution of factories to address the challenges of prolonged non-response or factory closures. Further, the sectoral-level weights in the IIP are derived based on the share of each sector in the total Gross Value Added (GVA) at current prices in FY 2022-23, as per the National Accounts Statistics with base year 2022-23.
Published on May 31, 2026