- Index of Industrial Production data or IIP as it is commonly called is an index that tracks manufacturing activity in different sectors of an economy.
- IIP is a key economic indicator of the manufacturing sector of the economy. Index of Industrial Production (IIP), explicitly reflects the industrial activities in the Indian economy. IIP, in essence, gives a measure of the performance of the industries during a given period in a chosen base period.
- There is a lag of six weeks in the publication of the IIP index data after the reference month ends.
- IIP index is currently calculated using 2011-2012 as the base year.
- The Number of item groups has been increased from 399 under 2004-05 series to 407 under the 2011-12 series. Each item group may contain several sub-industries.
- In the new base year (2011-12), these 407 item groups are divided into 3 sectors- Mining (1 item group), Manufacturing (405 item groups), and Electricity (1 item group) with % weights of 14.37%, 77.63% and 7.99% respectively.
- NSO of MOSPI releases it
