India Launches First Trial Index of Services Production
India has introduced its first trial Index of Services Production (ISP), providing a monthly measure of services sector activity, which constitutes over 53% of the country's gross value added. The inaugural release, based on 2024-25 data, showed 14 of 19 sub-sectors experienced double-digit growth in April, with accommodation and food services growing by 37.2%. The ISP aims to serve as a high-frequency economic indicator, complementing the Index of Industrial Production. The government plans to publish the index on the 29th of each month during the trial phase. This new index will enhance short-term GDP forecasting and assist the Reserve Bank of India in monetary policy formulation.
Published 1 day ago • 14 Jul 2026, 06:06 PM IST