First Press Release of All India Index of Industrial Production of New Series with Base Year 2022-23

📌 Summary:

• MoSPI revised IIP base year from 2011–12 to 2022–23 — first complete overhaul of the series in over a decade; aims to make IIP more representative of current industrial structure
• Revision based on report of the Technical Advisory Committee for Base Year Revision (TAC-IIP), released 25 May 2026; updated item basket, weighting structure, sectoral coverage; uses NIC-2025 classification
• IIP grew 4.9% in April 2026 (vs April 2025), led by Manufacturing 6.2%, Water Supply/Waste Management 6.6%, Electricity & Gas 4.9%, Mining –5.1%
• IIP index value: 118.9 in April 2026 vs 113.4 in April 2025 (base 2022-23=100)
• 17 of 23 manufacturing groups (NIC 2-digit) recorded positive growth; top contributors: motor vehicles (12.7%), electrical equipment (19.2%), machinery & equipment n.e.c. (12.9%)
• Use-based classification growth: Capital Goods +16.0% (strongest, signals investment cycle), Intermediate Goods +7.7%, Infrastructure/Construction +7.1%, Consumer durables +4.3%, Consumer non-durables +2.8%, Primary Goods +0.4%
• Sectoral weights (new series): Manufacturing 76.062, Mining & Quarrying 11.053, Electricity & Gas 10.865, Water Supply/Waste Management 2.020
• Next IIP release for May 2026: 29 June 2026

🎯 UPSC Relevance: GS3 Economy — statistical reform, base-year revision methodology, industrial classification (use-based, sectoral, NIC), reading IIP for growth diagnostics, capital goods as investment-cycle indicator

📝 Prelims Facts:

• IIP = Index of Industrial Production; released by National Statistical Office (NSO) under MoSPI
• New base year: 2022-23 (previous 2011-12)
• IIP covers 4 sectors: Mining & Quarrying, Manufacturing, Electricity & Gas Supply, Water Supply/Sewerage/Waste Management — Water Supply is new in this series
• Use-Based Classification: Primary, Capital, Intermediate, Infrastructure/Construction, Consumer durables, Consumer non-durables
• NIC-2025 = National Industrial Classification, 2025 (used in new series)
• April 2026 IIP growth: 4.9%; Manufacturing weight 76.062%
• IIP frequency: monthly

🔑 Key Term: Base Year Revision — periodic update of the reference year (=100) used in price/output indices to reflect contemporary economic structure, product mix and sectoral weights; ensures the index remains a relevant gauge of current industrial activity.