Friday, June 15, 2007

About IIP

Index of Industrial Production is a figure that is doled out every month by the CSO (Central Statistical Organization) of the MOSPI – Ministry of Statistics and Program Implementation at the Centre. It gives us the growth rates recorded in each of the industrial activities of the economy.

It is measured in three different ways. IIP-Sectoral gives figures about Mining, Manufacturing, Electricity and General sectors. Then there is the listing of all 17 industrial groups for which growth is monitored. This is followed by use-based industries’ monitoring. Use-based industries include basic goods, capital goods, intermediate goods, consumer goods, consumer durables, consumer non-durables.

Take a look at this link. Once there, you can choose the month that you want to see it for from the drop down list available on the top right.

The base for calculating the IIP is taken 100 during 1993-94. All the industries are grouped into 17 groups based on a 1987 NIC (National Industrial Classification) classification. NIC is nothing but an organized way of listing out various industries with a two digit code. This effort is made to keep Indian classification of goods in conformity with the international best practices like ISIC (International Standard Industrial Classification). If you want to more about the NIC follow this link.