Index of Industrial Production

The Index of Industrial Production (IIP) details the growth of various sectors in an economy such as mineral mining, electricity and manufacturing.
It is compiled and published every month by the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation.
The current base year is 2011-2012.
The Eight Core Industries (Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity) comprise 40.27 per cent of the weight of items included in the IIP.

According to the data released by the National Statistical Office, India’s Index of Industrial Production rose by a sharp 134.44% on a low year-on-year (YoY) basis in April 2021. However, NSO stressed that the numbers are not strictly comparable with April 2020 when the country was in the midst of a national lockdown. In April 2020, the IIP had contracted 55.5%.
April’s industrial output was just 0.08% higher than the pre-pandemic levels of April 2019. The manufacturing sector, hit hardest by the national lockdown over April 2020, recorded a 197.1% uptick this April, though it was still 0.9% lower than April 2019 levels.
Economists said the ‘exaggerated’ numbers could create a misleading impression about the state of the economy.
On a sequential month-on-month basis, April’s IIP contracted 12%, reflecting a hit on production activity as major states like Maharashtra and Delhi led the localized lockdowns.

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