MoSPI releases TAC report on revising IIP base year to 2022-23; new series from 1 June 2026
On 25 May 2026 MoSPI released the report of the Technical Advisory Committee on revising the base year of the All-India Index of Industrial Production from 2011-12 to 2022-23, ahead of the new series' launch on 1 June 2026.
Summary
MoSPI released the report of the Technical Advisory Committee on Base Year Revision of the IIP (TAC-IIP), constituted in September 2024 under Dr Mridul K. Saggar of IIM Kozhikode. The new IIP series with base 2022-23 adds Minor Minerals, Rare Earth Minerals, Gas Supply, Water Supply and Sewerage & Waste Management. Its basket has 1,042 products mapped to 463 item groups and is aligned with NIC-2025. It adds sub-indices, including separate indices for renewable and non-renewable electricity, and splits Mining into Fuel, Metallic and Non-Metallic Minerals. Closed factories will be substituted and new large factories added. The 2011-12 and 2022-23 series will be linked by the Geometric Mean method. The new series launches on 1 June 2026 with indices from April 2023.
Key facts
- Report
- TAC on Base Year Revision of IIP (TAC-IIP), released 25 May 2026
- TAC chair
- Dr Mridul K. Saggar, IIM Kozhikode (constituted Sept 2024)
- Base year
- 2011-12 → 2022-23
- Basket
- 1,042 products in 463 item groups; aligned with NIC-2025
- New coverage
- Minor & Rare Earth Minerals, Gas Supply, Water Supply, Sewerage & Waste Management
- Linking method
- Geometric Mean
- Launch
- 1 June 2026; index values from April 2023
Practice MCQs 3 questions
The new series of the All-India Index of Industrial Production (IIP), to be launched on 1 June 2026, will have which base year?
Show answer
Correct answer: C — 2022-23
The TAC-IIP report covers revision of the IIP base year from 2011-12 to 2022-23.
Which method will the new IIP series adopt for linking the 2011-12 series with the 2022-23 series?
Show answer
Correct answer: D — Geometric Mean method
The new series will adopt the Geometric Mean method for linking, with linking factors computed for the General Index and Sectoral Indices.
Consider the following statements about the new IIP series (base 2022-23): 1. Its scope includes Rare Earth Minerals and Water Supply. 2. It is aligned with the National Industrial Classification (NIC-2008). Which of the statements given above is/are correct?
Show answer
Correct answer: A — 1 only
The new series adds Minor Minerals, Rare Earth Minerals, Gas Supply, Water Supply and Sewerage & Waste Management, and is aligned with NIC-2025, not NIC-2008.