India, March 16 -- The Government of India has issued a release:
The Ministry of Statistics and Programme Implementation is in the process of revising the base year of the Index of Industrial Production (IIP) from 2011-12 to 2022-23. The exercise involves reviewing and updating methodologies, item basket, item weights, data sources, and the list of factories to ensure that IIP accurately captures the industrial growth in the country. The proposal to revise the industrial weights and the adoption of a chain-linked approach is part of the ongoing efforts to ensure the index adequately captures emerging sectors, changes in industrial composition and is aligned with internationally accepted statistical methodologies.
The Ministry has constitu...