First Trial Index of Services Production (ISP)

On 14th July 2026, the government released India's first trial Index of Services Production (ISP), providing a monthly measure of activity in the formal services sector.

Key Points

First-Ever Index: The trial ISP, with 2024–25 as the base year, covers 19 service sub-sectors and measures activity for April 2026.
Coverage: The index currently covers nearly 60% of India's formal services sector, with plans to expand coverage to 85–90%.
Growth Trend: Fourteen of the 19 sub-sectors recorded double-digit growth compared to April 2025.
Top Performers: Accommodation and food services recorded the highest growth at 37.2%, followed by retail trade at 30.8%.
Data Source: The index has been developed entirely using administrative data, including GST records and government databases, without increasing compliance burden.
Future Plan: A comprehensive overall ISP will be introduced after evaluating the trial series and expanding sectoral coverage.