Index of Industrial Production (IIP)

** Important : IIP series changed in May 2017 **

Main Changes:

  • Base year has been changed from 2004-05 to 2011-12
  • Number of items has been changed (See details below)
  • There will be 407 item groups
  • The new series of IIP will include technology items like smart phones, tablets, LED television etc.
  • A technical review committee has also been established to identify new items by ensuring that the series remains relevant. The committee is slated to meet at least once a year.
  • The revised IIP (2011-12) reflects the changes in industrial sector and also aligns it with base year of other macroeconomic indicators like Wholesale Price Index (WPI) and Gross Domestic Product (GDP).

About IIP

  • IIP is compiled and published by Central Statistics Office(CSO)
  • It is published every month
  • It covers 865 (Older series 682) items comprising :
    • Manufacturing (809 items, Older series 620 items),
    • Mining (55 items, Older Series 61 items) &
    • Electricity (1 item).
  • The weights of the three sectors are :
    • Manufacturing – 77.63%,
    • Mining – 14.37%,
    • Electricity – 7.99%
  • Base year for IIP is 2011-2012 (Earlier 2004-05) i.e. it is calculated on the basis of their share of GDP at factor cost during 2011-12.
  • The eight Core Industries comprise nearly 40.27 % of the weight of items included in IIP. They are :
    1. Coal (10.33%)
    2. Crude oil (8.98%)
    3. Natural gas (6.88%)
    4. Refinery products (28.04%)
    5. Fertilisers (2.63%)
    6. Steel (17.92%)
    7. Cement (5.37%)
    8. Electricity (19.85%)
  • In IIP, the decreasing order of core industries among them is as:

REFINERY PRODUCTS>ELECTRICITY> STEEL> COAL> CRUDE OIL> NATURAL GAS>CEMENT> FERTILIZERS

 
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