The Central Statistical Organisation will launch a new series of India's Index of Industrial production (IIP) on Friday. The new series will have 2004-05 as base year and 45 per cent more items on the list. The IIP is index which details out the growth of various sectors of economy such as manufacturing, power and mining over a period of time. At present, the IIP has 1993-94 as the base year and therefore includes a lot of outdated items like typewriter and taperecorder. The new base year will be broader and will have items like cellphones and ipods among others. It is thus expected to give a better picture of growth of various sectors of the economy.