About IIP

• The Index of Industrial Production (IIP) is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period.
• Mining, manufacturing, and electricity are the three broad sectors in which IIP constituents fall.
• 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 comprise 40.27 per cent of the weight of items included in the IIP.

Why in News?

• For the month of August 2023, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 145.1. 
• The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of August 2023 stand at 111.9, 143.5 and 220.5 respectively. 

https://pib.gov.in/PressReleasePage.aspx?PRID=1967120