New Delhi, May 25: : The government on Monday released a detailed report of the Technical Advisory Committee on Base Year Revision of the All-India Index of Industrial Production (TAC-IIP), aiming to familiarise users with the revised IIP 2022–23 series ahead of its official rollout on June 1.
The first release under the new series will present index values from April 2023 onwards, including the Quick Estimates for April 2026.
According to the Ministry of Statistics and Programme Implementation, the revised IIP will cover the All-India General Index along with sector-wise indices for Mining and Quarrying, Manufacturing, Electricity and Gas Supply, and Water Supply, Sewerage and Waste Management.
The June 1 release will also include manufacturing indices at the 2-digit level of NIC-2025, use-based classification indices, and linking factors.
The ministry said the revised item basket and weight structure have been updated to reflect current industrial realities by adding relevant products and removing obsolete items. The new basket comprises 1,042 products mapped across 463 item groups.
Aligned with the National Industrial Classification (NIC-2025), the updated series introduces greater sectoral detail through new sub-indices. These include separate indices for electricity generated from renewable and non-renewable sources.
The Mining and Quarrying segment has also been expanded into three categories — Fuel Minerals, Metallic Minerals including Rare Earth Minerals, and Non-Metallic Minerals including Minor Minerals.
The revised framework incorporates methodological improvements, including replacement of permanently closed factories or units with altered production lines by comparable facilities, alongside the inclusion of newly commissioned large-scale factories producing relevant items.
The government said the new series will use the Geometric Mean method to link the 2011–12 and 2022–23 IIP series, with linking factors calculated at both general and sectoral levels.
