India’s Expert Panel to Revise WPI and PPI

• An expert panel has been formed to revise India’s Wholesale Price Index (WPI) due to structural changes between 2011-12 and 2022-23.

• The panel, led by NITI Aayog member Ramesh Chand, will also examine the composition and methodology for a new Producers’ Price Index (PPI).

• The panel will suggest improvements in the PPI’s compilation and presentation formats and recommend a roadmap for India to switch from WPI to PPI.

• The final report is due to be submitted to the Office of the Economic Advisor in the Commerce and Industry Ministry within 18 months, with a deadline of June 30, 2026.

• The panel includes eight officials from the Ministries of Statistics, Finance, Petroleum and Natural Gas, Agriculture, and Consumer Affairs, and a RBI representative and the CEO of the GST Network.