New IIP series shows stronger growth in industrial output, shows data

The new IIP series tends to show stronger growth in manufacturing and overall industrial output under the new series compared to the older 201-12 series. 

General IIP growth rises to 6.7 per cent in 2023-24 under the 2022-23 base, compared with 5.9 per cent in the old series, and remains higher at 6.4 per cent versus 4 per cent in 2024-25. By 2025-26, the gap narrows, with the new series at 4.3 per cent and the old series at 4.1 per cent. For the electricity sector, which now also incorporates gas supply, growth was higher under the new series in 2024-25 and 2025-26 relative to the older series. 

The revised weights also point to a changing industrial structure, with higher importance in terms of weights now assigned to food products, wearing apparel, rubber and plastics, automobiles, and pharmaceutical products, while basic metals and refined petroleum products have lost weight under the 2022-23 series relative to the older one.