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IIP October 2020 report

Vipin Saini
Vipin Saini
IIP Report

The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mineral mining, electricity and manufacturing. The All India IIP is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period. It is compiled and published monthly by the National Statistics Office (NSO), Ministry of Statistics and Programme Implementation six weeks after the reference month ends. 

The level of the Index of Industrial Production (IIP) is an abstract number, the magnitude of which represents the status of production in the industrial sector for a given period of time as compared to a reference period of time. The base year was at one time fixed at 1993–94 so that year was assigned an index level of 100. The current base year is 2017-2018. 

The Eight Core Industries comprise nearly 40.27% of the weight of items included in the Index of Industrial Production (IIP). These are Electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilisers. 

Information on the IIP Oct. 2020 Report - made public by the Department of Chemicals & Petrochemicals on Dec. 23, 2020, In order with the Public Procurement (Preference to Make in India) Order 2017, there being sufficient local capacity and local competition, where the estimated value of procurement in Rs 50 Lakh or less, the procuring entities shall make procurement only from local suppliers in respect to the following items, indicated below, after minimum local content requirement is met including Chlorpyrifos, Cypermethrin, DDVP, Fenvalerate, Glyphosate, Lambda cyhalothrin, Monocrotophos.  

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