IIP

July Index of Industrial Production, or IIP, numbers came in at 7.1% as compared to 5.4% in June, 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. It is a statistical device, which enables us to arrive at a single representative figure to measure the general level of industrial activity in the economy. Strictly speaking, the IIP is a short-term indicator of industrial growth till the actual results from Annual Survey of Industries (ASI) become available. This indicator is of paramount importance to the Government for policy planning purposes and is also being extensively used by various organisations including Industrial Associations, Research Institutes and Academicians.