The Ministry of Statistics and Programme Implementation (MoSPI) has revised the base year of IIP from 2011-12 to 2022-23 to better reflect current industrial structure and dynamics.
- This is the 10th revision of base year of All India IIP. The first IIP was prepared with base year 1937.
Major Changes in New Series of IIP
- Base Year Revision: It is revised to 2022-23 under the aegis of the Technical Advisory Committee for base year revision (TAC-IIP).
- Coverage: It added Gas Supply, Water Supply, Sewerage & Waste Management activities while retaining the existing sectors.
- Inclusive Mining Classification: It added minor minerals and rare earth minerals for better sectoral representation.
- Revamped Item Basket: Basket expanded from 839 items to 1,042 products (463 item groups).
- Additions: Cards with a magnetic stripe, CCTV camera, Articles of non-woven textiles, Parts of aircraft and spacecraft, Stents, Vaccine (other than veterinary).
- Deletions: Kerosene, Fluorescent tubes and CFLs, Tubes for bicycle/ tricycle/ rickshaw tyres. Tubes for LMV tyres, Printing machinery, Sewing machines.
- Enhanced Granularity: It provides a more detailed disaggregation of industrial activities. In mining covering: (i) Fuel Minerals, (ii) Metallic Minerals, including Rare Earth Minerals, and (iii) Non-Metallic Minerals, including Minor Minerals.
- The Electricity Index now separately tracks generation from renewable and non-renewable sources.
- Need of Change in Base Year: To capture emerging sectors, changing production patterns and evolving consumption trends, to align IIP methodology with UN best practices and Include New Products & Industries etc.
