Archive · 14 Aug 2025
India's Economic Indicators to Undergo Major Overhaul
The Indian government is revamping how it measures the economy.
They're updating important numbers like the Wholesale Price Index (WPI), which tracks how much things cost businesses, and the Index of Industrial Production (IIP).
They're also creating a new Producer Price Index (PPI) to measure the prices businesses get for their products.
This will give a better picture of the economy.
The government will start collecting new data this month, going back to April 2022.
People in charge will be able to check company records to make sure everything is correct.
It's all to make sure the economic numbers are up-to-date and match how things really are today.
Government is updating key economic indicators, including WPI and IIP.
A Producer Price Index (PPI) is being introduced for the first time.
The survey will use the 2022-23 base year for revisions.
The exercise is authorized under the Collection of Statistics Act.
Data will be compiled retrospectively from April 2022.
- Who
- The Ministry of Commerce and Industry
- What
- Government is updating economic indicators and introducing PPI.
- When
- The exercise will begin this month, data from April 2022.
- Where
- India
- Why
- To modernize economic indicators and align with current manufacturing sector.
- Indicators Updated
- WPI, IIP
- New Index Introduced
- PPI
- Base Year
- 2022-23
- Act under
- Collection of Statistics Act, 2008
- Data Collection Begins
- This Month