Revamping India's IIP: DPIIT's Call for Production Stats

The Department for Promotion of Industry and Internal Trade (DPIIT) is urging manufacturing units to submit monthly production data from April 2022. This initiative supports updating the Index of Industrial Production (IIP), vital for measuring industrial growth. The data, collected via a government portal, aids in strategy development.

The Department for Promotion of Industry and Internal Trade (DPIIT) has issued a directive to manufacturing units, urging them to submit monthly production statistics from April 2022 onwards. This move is part of the department's latest update to the Index of Industrial Production (IIP), a crucial indicator of the industrial sector's health.

The DPIIT is committed to developing policies and strategies that align with stakeholders' needs, requiring accurate industrial growth monitoring. By gathering primary information on industrial production, the department can better tailor its strategies to drive development across the nation.

The National Statistical Office's latest data has shown a slowing of India's industrial production growth, with a decrease to a three-month low of 3.2 percent by December 2024. The DPIIT's renewed emphasis on data collection underscores the importance of reliable metrics in shaping economic policy.

(With inputs from agencies.)