The Ministry of Statistics and Programme Implementation is in the process of revising the base year of the Index of Industrial Production (IIP) from 2011-12 to 2022-23. The exercise involves reviewing and updating methodologies, item basket, item weights, data sources, and the list of factories to ensure that IIP accurately captures the industrial growth in the country. The proposal to revise the industrial weights and the adoption of a chain-linked approach is part of the ongoing efforts to ensure the index adequately captures emerging sectors, changes in industrial composition and is aligned with internationally accepted statistical methodologies.

The Ministry has constituted a Technical Advisory Committee for Base Year Revision of All India Index of Industrial Production (TAC-IIP) to advise and address statistical complexities and methodological improvement including chain-linked approach.

The revised IIP series with the new methodology is planned to be released in May 2026.

The base year revision exercise of the other national economic indicators of the Ministry namely Consumer Price Index (CPI) and Gross Domestic Product (GDP) have already been completed and new time series data has been released on 12^th February 2026 and 27^th February 2026 respectively.

This information was given by the Minister of State (Independent Charge) of the Ministry of Statistics and Programme Implementation, Minister of State (Independent Charge) of the Ministry of Planning and Minister of State in the Ministry of Culture Rao Inderjit Singh in the Rajya Sabha today.

Base year revision of industrial production index to update methodology and weights, release planned soon. Revision of the Index of Industrial Production base year involves updating the item basket, item weights, data sources, and factory list, and proposes adoption of a chain-linked approach to better capture emerging sectors and changes in industrial composition. A Technical Advisory Committee (TAC-IIP) will advise on methodological improvements, and the Ministry plans to release the revised IIP series under the new methodology in the near term.