The IIP is an index which gives the growth of different sectors in India like mining, manufacturing and electricity. Its full form is Index of Industrial Production. It is a compound indicator measuring the short-term variations in the production volume of a group of industrial products in a given time period relative to that in a selected base period.
The IIP is collated and brought out by the Central Statistical Organisation 6 weeks post the reference month ending. The current base year for the IIP is 2011-12.