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Compilation of Index of Industrial Production in India

Compilation of Index of Industrial Production in India. Department of Industrial Policy & Promotion Ministry of Commerce & Industry Government of India. Index of Industrial Production. Definition & Coverage

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Compilation of Index of Industrial Production in India

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  1. Compilation of Index of Industrial Production in India Department of Industrial Policy & Promotion Ministry of Commerce & IndustryGovernment of India

  2. Index of Industrial Production Definition & Coverage • Represents the status of industrial production for a given period of time as compared to a reference period of time • Compiled by Central Statistical Organisation (CSO) • Covers 538 items • Base year of current IIP series in India is 1993-94 • Base year under revision to 2004-05

  3. Classification • Current IIP series based on National Industry Classification (NIC) 1987 • NIC (1987) generally conforms to the principles and procedures laid down in the International Standard Industrial Classification (ISIC) • The revised series to be based on NIC (2004), which follows (ISIC), Rev 3.1

  4. Item basket • Index has a wide canvas covering Mining, Manufacturing and Electricity • Total 538 items • Mining : 64 items • Manufacturing: 473 items • Electricity: 1 item • Criteria for Selection • Based on Gross Value Added (GVA) as in National Account Statistics • Each item accounts at least US $ 20 million (approx)of GVA at the item level

  5. Weighting Diagram & Formula • Sectoral Weights allocated on the basis of GVA as published in National Accounts Statistics • Allocation of weights within 4 digit industry group on the basis of Value of Output from the Annual Survey of Industries • Index calculated by using Laspeyre’s formula : I=Σ (Wi Ri)/Σ Wi Where I is the Index, Ri is the production relative of the ith item for the month in question and Wi is the weight allotted to it

  6. Sources of Data • Production data for compiling IIP collected from 15 source agencies • 52 % manufacturing data collected directly from production units by Department of Industrial policy & Promotion • Index relating to Mines compiled by Indian Bureau of Mines • Central Electricity Authority furnishes data on electricity generation

  7. Timeliness & Dissemination • Quick Estimates of IIP released within six weeks of reference month as per SDDS norms of IMF • Index revised twice with quick estimates for next month and final index in the third month • The Central Statistical Organisation is responsible for release of IIP • Disseminated in the form of monthly press release

  8. Dissemination of IIP Unique Features • Dissemination based on structure of the economy • 3 broad groups • Mining • Manufacturing • Electricity • 17 groups of the manufacturing sector • Purposive aggregation based on sources of demand • Capital Goods • Intermediate Goods • Basic Goods • Consumer Goods

  9. Thank you for your attention

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