The government has kicked off the retirement of the Wholesale Price Index (WPI), rolling out India's first set of Producer Price Index (PPI) data on June 15 and setting a five-year transition period before WPI is discontinued, according to a press release issued by the Ministry of Commerce and Industry.
The change, more than two decades in the making, will eventually require businesses to rethink how they price and index contracts. "Businesses should not wait until the formal replacement of WPI by PPI to reassess their contractual frameworks," said DK Srivastava, Chief Policy Advisor, EY India.
