MoSPI Releases Experimental Services Production Index for July 2026
The Ministry of Statistics & Programme Implementation (MoSPI) has released the trial Index of Services Production (ISP) for July 2026, covering 19 sub-sectors with base year 2024-25. This experimental publication aims 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 annual revision.
Sub-Sector Performance Highlights
Administrative and support services recorded the highest year-on-year growth at 20.9%, reaching an index value of 134.5. Retail trade showed strong performance with 18.5% growth to 140.0, while real estate grew 14.4% to 121.2. Banking sector increased 12.3% to 121.9, and wholesale trade grew 12.1% to 126.8. Accommodation and food services expanded 12.6% to 144.0, and telecommunications grew 11.0% to 121.4.
IT and computer related services increased 10.7% to 119.1, while professional, scientific & technical services including R&D grew 10.4% to 116.2. Information and broadcasting registered 10.0% growth to 120.8. Road transport grew 9.9% to 132.1, warehousing and support activities for transportation increased 9.8% to 127.8, and insurance grew 8.9% to 124.1.
Postal and courier services grew 8.7% to 107.4, water transport increased 7.7% to 107.5, and railway transport grew 7.5% to 106.1. Arts, entertainment and recreation services showed minimal growth of 1.7% to 107.0. Two sectors experienced declines: repair services decreased 5.0% to 126.3, and air transport declined significantly by 8.4% to 87.8.
Monthly Trend Analysis
The annexure provides monthly indices from July 2025 through July 2026, showing varying patterns across sub-sectors. Retail trade demonstrated consistent strength throughout the period, reaching its peak of 155.4 in March 2026. Administrative and support services also showed robust performance, peaking at 156.5 in March 2026. Insurance displayed considerable volatility, ranging from 91.1 in May 2026 to 168.1 in March 2026. Air transport showed persistent weakness, remaining below 100 for most months and hitting a low of 87.8 in July 2026.