Inaugural Index of Services Production: 14 of 19 sub-sectors grew in double digits in April

📌 Summary:

• The government released the trial and inaugural Index of Services Production (ISP) to track output of India's services sector
• 14 of the 19 sub-sectors recorded double-digit growth in April 2026
• Best performers: accommodation & food, retail trade, administrative & support services, and real estate
• The 19 sub-sectors measured account for about 60% of India's services sector
• ISP fills a long-standing data gap: services contribute over half of GVA but, unlike industry (IIP), lacked a high-frequency output index

🎯 UPSC Relevance: GS3 Economy — better measurement of the services sector (dominant share of GVA) strengthens India's economic data infrastructure and policymaking

📝 Prelims Facts:

• ISP = Index of Services Production (trial/inaugural release)
• Covers 19 sub-sectors (~60% of services output)
• Conceptual parallel to the Index of Industrial Production (IIP) for industry

🔑 Key Term: Index of Services Production — a high-frequency index measuring volume/output changes in the services economy.