The Ministry of Statistics and Programme Implementation (MoSPI) has revised the base year of the IIP from 2011–12 to 2022–23 to better reflect the current industrial structure and dynamics.

This marks the 10th revision of the base year for the all-India IIP. The first IIP was compiled with 1937 as the base year.
India's IIP growth rate declined from 5.8% in April 2025 to 4.9% in April 2026, as the government introduced a revised IIP series with 2022–23 as the new base year (replacing 2011–12).
Sector-wise performance (April 2026): The manufacturing sector, which holds a weight of approximately 76% in the IIP basket, recorded a growth of 6.2%.
In contrast, the mining and quarrying sector witnessed a sharp decline of over 5%.
Trends in use-based classification (April 2026): Growth accelerated in capital goods (16%) and infrastructure/construction goods (7.1%). However, growth remained sluggish in primary goods, consumer durables, and consumer non-durables.

Key changes in the new IIP series

Base year revision: The base year has been revised to 2022–23 under the aegis of the Technical Advisory Committee (TAC-IIP).
Coverage: Activities related to gas supply, water supply, sewerage, and waste management have been added while retaining existing sectors.
Inclusive mining classification: Minor minerals and rare earth minerals have been included to ensure better sectoral representation. Revised Item Basket: The basket has been expanded from 839 items to 1,042 products (463 item groups).
Added Items: Magnetic stripe cards, CCTV cameras, articles made of non-woven fabrics, aircraft and spacecraft parts, stents, and vaccines (excluding veterinary use).
Removed Items: Kerosene, fluorescent tubes and CFLs, tubes for bicycle/tricycle/rickshaw tires, tubes for LMV tires, printing machinery, and sewing machines.
Improved Granularity: It provides a more detailed classification of industrial activities. The mining sector now includes: (i) fuel minerals, (ii) metallic minerals (including rare earth minerals), and (iii) non-metallic minerals (including minor minerals).
The electricity index now separately tracks generation from renewable and non-renewable sources.
Need for Base Year Revision: To capture emerging sectors, changing production patterns, and evolving consumption trends; to align the IIP methodology with UN best practices; and to incorporate new products, industries, etc.