New Delhi: India is launching a new Index of Industrial Production (IIP) series with 2022-23 as the new base year, replacing the old 2011-12 series.
The revised index, prepared by the Ministry of Statistics and Programme Implementation (MoSPI). It will include emerging sectors such as rare earth minerals, gas supply, aircraft and spacecraft parts, vaccines, CCTV cameras and medical devices.
The move aims to make India’s industrial growth data more accurate and aligned with the country’s changing economic structure.
What Is the Index of Industrial Production (IIP)?
The Index of Industrial Production (IIP) is one of India’s most important economic indicators. It measures monthly industrial output across sectors such as:
- Manufacturing
- Mining
- Electricity
- Utilities and industrial services
Governments, economists, investors and the Reserve Bank of India (RBI) use IIP data to understand industrial activity and economic momentum.
Details of India New IIP Series 2026
Economic structures change over time.
The current IIP series uses 2011-12 as the base year. Since then, India has seen:
- Growth in digital payments
- Expansion of renewable energy
- Rise of defence and aerospace manufacturing
- Increase in medical technology production
- Development of rare earth and strategic mineral industries
The new 2022-23 base year is designed to better reflect these modern industrial trends.
Major Changes in the India New IIP Series 2026
1. Rare Earth Minerals Added
For the first time, India will separately track:
- Rare earth minerals
- Minor minerals
- Strategic mineral production
This is important because rare earth elements are essential for:
- Electric vehicles (EVs)
- Defence systems
- Semiconductors
- Renewable energy equipment
The inclusion comes at a time when countries worldwide are trying to reduce dependence on limited global suppliers.
2. Gas Supply Enters Industrial Tracking
The revised index will separately monitor:
- Gas supply
- Piped Natural Gas (PNG)
This reflects the government’s push toward cleaner fuels and expansion of energy infrastructure.
3. Water, Sewerage and Waste Management Included
The new IIP broadens industrial coverage by adding:
- Water supply
- Sewerage services
- Waste management
These sectors were previously outside the main industrial production framework.
4. Aerospace and Defence Manufacturing Get Recognition
New products added include:
- Aircraft parts
- Spacecraft components
This reflects India’s growing aerospace and defence manufacturing ecosystem under initiatives such as Make in India.
5. Modern Products Added to the Basket
Several new-age products have been included:
- Debit and credit cards with magnetic stripes
- CCTV cameras
- Non-woven textile products
- Medical stents
- Vaccines
These products better represent current industrial production patterns.
India New IIP Series 2026: Bigger Product Basket
According to official MoSPI information:
| Category | Old Series | New Series |
| Item Groups | 407 | 463 |
| Total Products | 922 (approx.) | 1,042 |
| New Item Groups Added | — | 120 |
| Item Groups Removed | — | 64 |
The revised basket is aligned with the National Industrial Classification (NIC)-2025 framework.
Which Products Were Removed?
Some older products with reduced industrial relevance have been dropped, including:
- Kerosene
- Fluorescent tubes
- CFLs
- Bicycle tyre tubes
- Rickshaw tyre tubes
- Sewing machines
- Certain printing machinery
This helps the index focus on products that better represent today’s economy.
More Detailed Industrial Data
The new IIP will provide separate tracking for:
- Renewable electricity generation
- Non-renewable electricity generation
- Fuel minerals
- Metallic minerals
- Non-metallic minerals
This will give policymakers deeper insights into industrial and energy sector trends.
