14 of 19 sectors post double-digit growth in April
New Delhi, July 14: India on Tuesday launched a new monthly indicator to track activity in its services economy, with the first trial release showing broad-based expansion across key sectors and double-digit growth in 14 of 19 sub-sectors in April 2026.
The Ministry of Statistics and Programme Implementation (MoSPI) released the first sub-sectoral Index of Services Production (ISP), aimed at providing a more timely measure of activity in the formal services sector, which accounts for more than half of India’s economic output.
The trial index, based on the 2024-25 base year, covers about 60 per cent of the services sector and tracks monthly movements across areas, including trade, transport, telecommunications, banking, IT services, real estate and hospitality.
The ministry said the index will be published on the 29th of every month, while an overall services production index will be introduced later after assessing the stability of the trial series and expanding coverage.
Wholesale trade, retail, accommodation and food, road transport, air transport, telecommunications, and banking are among the sub-sectors, covering about 60 per cent of the services sector.
Fourteen of the 19 sub-sectors posted double-digit year-on-year growth in April, with accommodation and food services leading the expansion at 37.2 per cent, followed by retail trade at 30.8 per cent, administrative and support services at 28.7 per cent and real estate at 27.7 per cent.
Only railway and air transport posted a decline in April, according to the trial ISP.
“The ISP (Index of Services Production) represents an important milestone in strengthening India’s statistical system and improving the measurement of the services sector, which accounts for more than half of the country’s economic activity,” MoSPI said in a statement.
Air transport declined by 13.9 per cent, and railway transport was down by 0.4 per cent in April.
Top sub-sectors reporting strong growth in April were ‘accommodation and food’ (37.2 per cent), retail trade (30.8 per cent), administrative and support services (28.7 per cent) and real estate (27.7 per cent), according to the index.
MoSPI said the release of sub-sectoral ISPs will provide, for the first time, a monthly measure of short-term movements in India’s formal services sector, with a coverage of about 60 per cent.
“Based on its data sources, namely, GST and Administrative Data, ISP would cover the formal sector enterprises only.
“Accordingly, services which are not covered in ISP are those which are either related to core government activities or are dominated by non-market activities and the informal sector,” the ministry said. (PTI)
