India Revises Base Year for GDP, CPI, and IIP to Update Economic Indicators

India's Ministry of Statistics and Programme Implementation (MoSPI) is revising the base year for key economic indicators including GDP, Index of Industrial Production (IIP), and Consumer Price Index (CPI) to better reflect current economic realities. The updates involve methodological improvements, new data sources, and revised weights to align with evolving consumption and production patterns. The new CPI series will launch in February 2026, followed by GDP and IIP updates, aiming to enhance accuracy and align with international standards.