It is the indicator of the development of various sectors like mining,electricicty and manufactoring sector.It compares the volume of units produced in the given year to the previous year of the same month.
For Example in 2016 iip is 0.3% from april as in 2015
This statistics are calculated by CSO Central Statistics Organisation.It will calculated the given month and gives the report after six weeksccc.This is monitered by Ministry of Commerce and Industry and the Minister is Nirmala Sitharaman.
Different types of goods are present in the calculation of iip
It is the basic good or the raw material for the production of finished good
Example – Cotton is the basic good for textile industry
Capital goods are Tangible goods like machinery,buildings etc for the production of goods or services