India Proposes Comprehensive Reform of Industrial Production Index Calculation

Golden Ten Data reported on May 25 that India's Ministry of Statistics has proposed revising the calculation method for its monthly industrial output, including expanding industry coverage and adopting a chain-based linking framework. This move aims to synchronize with the updated industrial output series data scheduled for release next week. A technical advisory group under the ministry has recommended extensive reforms to the "Index of Industrial Production" (IIP), including separately tracking renewable energy generation and incorporating public utility sectors such as gas supply, water supply, sewage treatment, and waste management.