New IIP series from June 1 to track renewables, waste management, rare earths

• ET Bureau

• Published On May 26, 2026 at 01:22 PM IST

This update aims to provide a more current and detailed picture of India’s industrial activity.

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India will release a revamped Index of Industrial Production (IIP) on June 1, updating the base year to 2022-23 and expanding coverage to include sectors such as minor minerals, rare earth minerals, gas supply, water supply and sewerage & waste management. The revised series will also introduce more granular tracking of industrial activity, including separate indices for renewable and non-renewable electricity generation, the ministry of statistics and programme implementation (MoSPI) said Monday.

The new series will adopt 2022-23 as the base year, replacing 2011-12, to provide a more current picture of India’s industrial activity.

According to Technical Advisory Committee (TAC) report, the updated index will cover 1,042 products across 463 item groups, and is aligned with National Industrial Classification (NIC-2025) framework.

The manufacturing basket will also be restructured, with 120 new item groups added and 64 removed. At present, the IIP tracks three broad sectors: mining, manufacturing and electricity.

“The new series also introduces greater granularity through sub-indices, including separate indices for electricity generated from renewable and non-renewable sources. Similarly, the Mining and Quarrying sector is now divided into three sub-indices covering Fuel Minerals, Metallic Minerals (including Rare Earth Minerals), and Non-Metallic Minerals (including Minor Minerals),” the ministry said in a statement.

The new series will adopt geometric mean method for linking 2011-12 series with the 2022-23 series. “The linking factors will be computed at aggregated levels, namely for the General Index and the Sectoral Indices,” the statistics ministry said.

The TAC recommended introducing a chain-linked IIP alongside the fixed base index, allowing periodic updates of weights, and publishing IIP data for all 36 states and union territories. The panel also proposed developing a separate industrial index for the unincorporated sector and releasing seasonally adjusted IIP data.

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