The Ministry of Statistics and Programme Implementation (MoSPI) released India's first trial Index of Services Production (ISP), covering 19 sub-sectors. It will serve as the services counterpart of the Index of Industrial Production (IIP) and gives a monthly measure of formal services activity.
The first index uses 2024-25 as base year, covers April 2026 and about 60% of the services sector. Fourteen sub-sectors grew in double digits; accommodation and food services (37.2%) and retail trade (30.8%) grew fastest. It is built from GST and administrative data and is an output indicator, not GVA.