MoSPI Launches First Index of Services Production for 19 Sub-Sectors
The Ministry of Statistics & Programme Implementation (MoSPI) has commenced the release of its experimental Index of Services Production (ISP) with base year 2024-25, marking a significant milestone in strengthening India's statistical system. The first release covers April 2026 data for 19 sub-sectors that represent approximately 60% of India's services sector, which accounts for more than half of the country's economic activity.
April 2026 Performance Highlights
Fourteen of the 19 sub-sectors recorded double-digit growth in April 2026 compared to April 2025, with nearly all categories showing positive growth. The top performing sub-sectors were Accommodation and Food services (37.2% growth), Retail Trade (30.8%), Administrative & support services (28.7%), and Real Estate (27.7%). Other strong performers included Telecommunications (22.8% growth), Repair Services (19.2%), Road Transport (18.5%), and Warehousing and support activities for transportation (18.2%).
Moderate growth was seen in Professional, scientific & technical services including R&D (16.5%), Arts, Entertainment and Recreation Services (16.4%), Insurance (15.6%), Wholesale Trade (15.3%), IT and computer related services (15.2%), and Banking (12.2%). Water Transport showed modest growth at 5.7%, while Postal and Courier services grew by 3.3% and Information and Broadcasting by 2.5%. Only two sectors recorded negative growth: Air Transport declined by 13.9% and Railway Transport showed a marginal decline of 0.4%.
Methodology and Data Sources
The ISP adopts a differentiated approach to compilation based on data availability. Administrative and secondary data are used for Air Transport, Railway Transport, Water Transport (Freight), Banking and Insurance sub-sectors. GST data forms the basis for Wholesale Trade, Retail Trade, Repair and Maintenance, Accommodation & Food, Road Transport, Water Transport (Passenger), Warehousing & support activities for transportation, Postal & courier, Telecommunications, Information & Broadcasting, Real estate, IT & computer related services, Professional, scientific & technical services including R&D, Administrative & support services and Arts, Entertainment & Recreation. Weights are derived from the Annual Survey of Incorporated Services Sector Enterprises (ASISSE) data at the 2/3-digit level of National Industrial Classification (NIC) 2025.
Deflator Methodology
The index uses various deflators including WPI for Wholesale Trade, CPI-General for Repair & Maintenance, Banking and Insurance, and sector-specific CPIs where available. CPI-Retail is used for Retail Trade, CPI-Restaurants and accommodation services for Accommodation and food services, and transport-specific CPIs for relevant sectors. For sectors without direct mapping, CPI-Services is used as a deflator, including for IT and computer related services, Professional, scientific & technical services including R&D, and Administrative and support services.
Important Notes and Future Releases
The monthly ISPs are published on an experimental basis to enable MoSPI to examine data quality, test resilience, and receive stakeholder feedback. The indices for Railways, Banking and Insurance sub-sectors are based on provisional monthly data and will undergo revision on an annual basis. Subsequent ISP releases will be published on the 29th of every month. MoSPI plans to release an overall ISP later after studying the stability and resilience of sub-sectoral ISPs and improving overall services coverage.