India Overhauls Industrial Production Index: New Base Year and Expanded Scope Set for 2026
A Modernized Benchmark for Industrial Growth The Government of India has officially announced a comprehensive revision of the Index of Industrial Production (IIP), shifting the base year from 2011-12 to 2022-23, effective June 1, 2026. This significant update, spearheaded by the Ministry of Statistics and Programme Implementation (MOSPI), aims to capture the evolving landscape of…