India’s Ministry of Statistics and Programme Implementation (MoSPI) releases the first sub-sectoral trial Index of Services Production (ISP), aiming to improve monthly measurement of the formal services sector. The trial index covers 19 sub-sectors that together account for about 60% of India’s services sector and uses a base year of 2024-25. For April 2026, the index shows 14 of the 19 sub-sectors recording double-digit year-on-year growth. Sub-sectors with strong increases include accommodation and food (37.2%), retail trade (30.8%), administrative and support services (28.7%), and real estate (27.7%). Other categories covered include wholesale trade, telecommunications, banking, road transport, air transport, and air transport. According to the trial ISP, most categories record positive growth on an annual basis, except for railway transport (-0.4%) and air transport (-13.9%).
MoSPI says the trial ISP provides, for the first time, a monthly measure of short-term movements in formal services, based on data from GST and administrative sources. It focuses on the formal sector, while services linked to core government activity and those dominated by informal or non-market activities are not included. MoSPI plans to release subsequent ISPs on the 29th of every month, and the overall ISP is expected later after stability and coverage are assessed.
