IIP Base Year Revised to 2022-23 as Industrial Growth Slows to 6.7%
The Ministry of Statistics and Programme Implementation (MoSPI) has revised the base year of the Index of Industrial Production (IIP) to 2022-23, expanding its basket coverage to 463 items. Meanwhile, India's industrial output growth decelerated to a four-month low of 6.7% in September 2026.
What happened
India's industrial output growth, measured by the Index of Industrial Production (IIP), decelerated to a four-month low of 6.7% in September 2026. This followed a revised 7.8% growth recorded in August 2026, bringing the overall IIP index level to 124.3 for September 2026 compared to 116.5 in the corresponding period of the previous year.
During the first half of the financial year spanning April to September 2026, industrial output expanded by 6.8%, improving from 4.4% in the same period of the previous year. Sectoral performance for September 2026 showed manufacturing growing by 7.6%, electricity and gas supply rising by 11.2%, and water supply, sewerage, and waste management increasing by 5.8%. Conversely, mining and quarrying contracted by 6.2%.
Concurrently, the Ministry of Statistics and Programme Implementation (MoSPI) updated the All India IIP base series from 2011-12 to 2022-23 to better reflect current economic structures. The revised basket now covers 463 item groups comprising 1,042 products, expanding from the previous 407 item groups and 839 items under the 2011-12 series. The update incorporates 120 new item groups—such as CCTV cameras, stents, and spacecraft parts—while dropping 64 items like kerosene and fluorescent tubes.
Important dates
| TAC-IIP Report Release Date | 25 May 2026 |
|---|---|
| First Release under New 2022-23 Base Series | 1 June 2026 |
| September 2026 IIP Data Reference Period | September 2026 |
📌 Static GK links
- IIP is compiled and released monthly by the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI), New Delhi.
- Historical base years for the IIP include 1946, 1951, 1956, 1960, 1970, 1980-81, 1993-94, 2004-05, and 2011-12.
What candidates should do
- Aspirants should note the new IIP base year (2022-23) and the expanded item basket count (463 item groups) for upcoming objective tests in Banking and SSC exams.
- Memorize the compiling authority (NSO, MoSPI) and the specific sectoral growth trends for September 2026, such as manufacturing and mining performance.
PrepZen analysis
The revision of the IIP base year to 2022-23 marks a significant structural update by MoSPI to capture contemporary manufacturing trends, incorporating new high-value items like CCTV cameras and medical stents while deleting outdated products like kerosene and CFLs. For competitive exams, questions frequently target base years, compiling agencies, and recent index movements. Understanding the transition from the 2011-12 series to the 2022-23 series is essential for economic current affairs sections in UPSC, Banking, and SSC examinations.
Practice questions
Q1. What is the new base year for the Index of Industrial Production (IIP) updated by MoSPI?
Q2. Which organization compiles and releases the Index of Industrial Production (IIP) in India?
Q3. How many total item groups are covered in the revised IIP series under the 2022-23 base year?
MoSPI updated the IIP base series from 2011-12 to 2022-23.
New IIP series basket expands coverage to 463 total items.
🎯 Key Point: MoSPI revised IIP base year to 2022-23 with 463 items.
FAQs
What is the current base year of the Index of Industrial Production (IIP)?
The base year of the IIP is 2022-23, following a revision by the Ministry of Statistics and Programme Implementation (MoSPI).
Who releases the IIP data in India?
The IIP data is compiled and released on a monthly basis by the National Statistical Office (NSO), operating under MoSPI, headquartered in New Delhi.
How many item groups are included in the updated IIP basket?
The revised IIP basket includes 463 item groups, which comprise 1,042 individual items and products.
What was India's IIP growth rate in September 2026?
India's industrial output growth decelerated to a four-month low of 6.7% year-on-year in September 2026.
Sources and references
- businesstoday.in (www.businesstoday.in)
- thehindu.com (www.thehindu.com)
- theprint.in (theprint.in)
- economictimes.com (economictimes.indiatimes.com)
Prepared by PrepZen for exam preparation. Consult the linked sources for original announcements and current details. Corrections policy. Spotted an error? Write to prepzen.app@gmail.com.
Practice Quiz — 29 October 2026
Q1. Which Union Territory was declared India's first 100% Organic Union Territory in October 2026?
Q2. Consider the following statements regarding the Container Manufacturing Promotion Scheme (CMPS): 1. The scheme has an approved financial outlay of ₹10,000 crore. 2. It aims to increase India's annual container capacity to 7.5 lakh TEUs. 3. Land at major ports will be leased to manufacturers at 50% of the notified rate. Which of the statements given above is/are correct?
Q3. What is the total outlay approved for the Pradhan Mantri Viksit Gram Swaraj Yojana (PM-VGSY)?
Q4. Dearness Allowance (DA) for Central Government employees in India is calculated based on which index?
Q5. What is the new base year revised by MoSPI for the Index of Industrial Production (IIP)?
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