The government today released the country’s first trial Index of Services Production (ISP) for 19 sub-sectors, providing, for the first time, a monthly measure of short-term activity in the formal services sector. The inaugural index, with 2024-25 as the base year, covers April 2026 and accounts for nearly 60 per cent of India’s services sector. The Ministry of Statistics and Programme Implementation described the sub-sectoral ISP as a major milestone in improving the measurement of India’s services sector and strengthening the country’s statistical system. It said the comprehensive overall Index of Services Production will be introduced after evaluating the stability of the trial series and expanding its coverage. The first set of data points to broad-based growth in the services sector. Fourteen of the 19 sub-sectors recorded double-digit growth in April this year compared to the corresponding month last year, while almost all remaining sectors also registered positive growth. The Ministry said the Index of Services Production will be released on the 29th of every month, providing policymakers, businesses and researchers with a timely indicator to track short-term movements in India’s formal services economy.
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