India, Nov. 11 -- The Ministry of Statistics and Programme Implementation (MoSPI) is undertaking the base revision exercise of theIndex of Industrial Production (IIP).In the process, MoSPI is revisiting methodologies, exploring new data sources and incorporating changes after comprehensive consultations with the experts, academicians, users and other stakeholders.
In the present series of IIP, index is compiled on the basis of a data received from fixed panel of factories selected in base year to represent industrial activity across various sectors. As the industrial landscape evolves, some of the factories in the existing sample may become non-operational or diversify/change their production profile, thereby necessitating their substituti...