MoSPI Holds Third Consultative Workshop on GDP, IIP and CPI Base Revision in Chennai

The workshops are designed to share proposed methodological and structural improvements with data users and stakeholders ahead of these releases.

The Ministry of Statistics and Programme Implementation (MoSPI) organised the third Pre-release Consultative Workshop on the Base Revision of Gross Domestic Product (GDP), Index of Industrial Production (IIP) and Consumer Price Index (CPI) on 30 January 2026 in Chennai, as part of its ongoing effort to enhance transparency and stakeholder engagement in India’s official statistical system.

The earlier workshops in the series were held in Mumbai on 26 November 2025 and New Delhi on 23 December 2025. Together, the consultations aim to ensure broad-based dialogue and informed feedback before the release of the revised statistical series.

Revised series timelines announced

MoSPI informed that:

• The new GDP series with FY 2022–23 as the base year will be released on 27 February 2026

• The new IIP series with FY 2022–23 as the base year will be released on 28 May 2026

• The new CPI series with 2024 as the base year will be released on 12 February 2026

The workshops are designed to share proposed methodological and structural improvements with data users and stakeholders ahead of these releases.

Eminent participation from policy, academia and finance

The inaugural session was attended by eminent dignitaries including Dr C. Rangarajan, Chairman, Madras School of Economics and former Chairman, Economic Advisory Council to the Prime Minister; Prof. Rajeeva Laxman Karandikar, Chairman, National Statistical Commission; Dr Saurabh Garg, Secretary, MoSPI; Dr Shamika Ravi, Member, Economic Advisory Council to the Prime Minister; and Shri N. K. Santoshi, Director General (Central Statistics), MoSPI.

The workshop saw participation from around 150 experts, including economists, representatives from financial institutions such as RBI, Barclays Bank PLC and Goldman Sachs, academics, subject-matter specialists, institutions like the C R Rao Advanced Institute, NITI Aayog, and senior officials from Central and State Governments.

Focus on credibility, transparency and data-driven policymaking

Welcoming participants, Shri N. K. Santoshi outlined key initiatives undertaken for the base revision of GDP, CPI and IIP, noting that the exercise is based on extensive methodological reviews, updated classifications and wide consultations.

Dr C. Rangarajan, in his address as Chief Guest, stressed that engaging data users strengthens the credibility and reliability of official statistics. He said GDP revisions are essential to capture structural changes in the economy, and highlighted the importance of transparent methodology, use of new data sources, and accurate interpretation.

Setting the context, Dr Saurabh Garg, Secretary, MoSPI, underlined the importance of data-driven decision-making and the need for timely, granular and user-friendly data dissemination. He highlighted efforts to leverage alternative data sources, harmonise datasets, and expand access through mobile applications and data assistance services.

In her keynote address, Dr Shamika Ravi said India’s rapidly transforming economy requires official statistics to continuously evolve to reflect the true scale of economic activity. She emphasised that data gains credibility when it is widely used, accessible and presented in user-friendly formats, and commended MoSPI’s reforms to strengthen India’s statistical ecosystem.

Prof. Rajeeva Laxman Karandikar described data as a national asset and stressed the importance of data sharing and accessibility. He said India’s statistical system must become more timely, forward-looking and user-oriented, and praised MoSPI’s reforms including new surveys, expanded coverage and updated classification standards.

Technical sessions and stakeholder feedback

The inaugural session was followed by three technical sessions:

• GDP session, chaired by Prof. Biswanath Goldar, retired Professor, Institute of Economic Growth, Delhi

• IIP session, chaired by Prof. Mridul K. Saggar, IIM Kozhikode

• CPI session, chaired by Shri Ashish Kumar, former Director General, MoSPI

During these sessions, officials presented the proposed improvements in the revised series, followed by open-house discussions where participants’ queries and suggestions were addressed.

MoSPI informed that discussion papers on the proposed improvements are available on the Ministry’s website (www.mospi.gov.in). Users of GDP, IIP and CPI data have been encouraged to share feedback, comments and suggestions to further strengthen the revised statistical series.