India Launches 19-Sector Services Index as Most Categories Grew in April
Updated
Updated · Bloomberg · Jul 14
India Launches 19-Sector Services Index as Most Categories Grew in April
3 articles · Updated · Bloomberg · Jul 14
Summary
India unveiled a trial Index of Services Production, a new high-frequency measure that showed April growth across most of the 19 services sub-sectors it tracks.
The index is designed to give policymakers a faster read on services activity in an economy where the sector accounts for more than half of output.
MoSPI said the first release covers the formal services economy; earlier details showed 14 of the 19 sub-sectors posted double-digit growth in April 2026.
The new gauge is meant to spot slowdowns sooner and strengthen real-time monitoring of a sector that has lacked a comparable frequent activity indicator.
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Measuring India's Services Sector: The Debut and Impact of the Index of Services Production (ISP)
Overview
India launched its Index of Services Production (ISP) on July 14, 2026, marking a major step in tracking the country's largest economic sector. The ISP provides a monthly, short-term measure of services output, offering fresh insights into sector performance and recovery. Developed through expert guidance and a dedicated advisory committee, the ISP uses a defined base year to ensure consistency. Its debut follows a meticulous process, including the release of a detailed report, and gives policymakers and analysts a new tool to understand the momentum of India's dynamic services industry.