IIP Stands For

Index of Industrial Production (IIP) in simplest terms is an index which details out the growth of various sectors in an economy.E.g. Indian IIP will focus on sectors like mining, electricity, Manufacturing & General.
The first official attempt to compute and release the Index of Industrial Production was made by Office of Economic Advisor, Ministry of Commerce and Industry with the base year 1937 covering 15 important industries, which then accounted for more than 90 per cent of the total production of the selected industries.