India launches first Services Production Index, April growth

India's government on Tuesday, July 14, 2026, launched its first monthly Index of Services Production, a new high-frequency economic indicator designed to track activity in the country's dominant services sector. The inaugural trial release, covering April 2026, showed robust growth, with 14 of the 19 measured subsectors recording double-digit expansion compared to April 2025.

The new index, developed by the Ministry of Statistics and Programme Implementation, positions the services sector on similar footing to industry, which has long been tracked by the monthly Index of Industrial Production. The services sector contributes more than half of India's gross value added and accounts for a significant portion of employment. The 19 initial subsectors, which include wholesale and retail trade, accommodation and food services, transport, telecommunications, banking, and real estate, represent about 60 percent of the total services economy.

Data for April revealed particularly strong performance in several areas. Accommodation and food services led with growth of 37.2 percent, followed by retail trade at 30.8 percent, administrative and support services at 28.7 percent, and real...