India launches Index of Services Production

India has launched the Index of Services Production (ISP), India?s first high-frequency macroeconomic indicator to measure the performance of the country?s services sector. Data out yesterday showed that 14 of the 19 sub-sectors in the trial and inaugural release showed a double-digit growth in April 2026, with the best-performing sectors including accommodation and food, retail trade, administrative and support services, and real estate. The ISP represents an important milestone in strengthening India?s statistical system and improving the measurement of the services sector, which accounts for more than half of the country?s economic activity,? the Ministry of Statistics and Programme Implementation said in a release. The top sub-sectors that reported strong growth in April 2026 were accommodation and food (37.2%), retail trade (30.8%), administrative & support services (28.7%), and real estate (27.7%).

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