The Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday released the first trial edition of the sub-sectoral Index of Services Production (ISP) with the base year 2024-25. The inaugural release covers 19 services sub-sectors for April 2026 and provides, for the first time, a monthly measure of short-term movements in India’s formal services sector, covering about 60% of the services sector. MoSPI said subsequent ISP data will be released on the 29th of every month, while the overall ISP will be introduced later after assessing the stability and resilience of the sub-sectoral indices and expanding coverage.
The trial data showed that 14 of the 19 sub-sectors recorded double-digit growth in April 2026 compared with April 2025, while nearly all categories registered positive growth. The fastest-growing segments were Accommodation and Food at 37.2%, Retail Trade at 30.8%, Administrative and Support Services at 28.7%, and Real Estate at 27.7%.
Other sectors posting positive growth included Telecommunications at 22.8%, Repair Services at 19.2%, Road Transport at 18.5%, Warehousing and Support Activities for Transportation at 18.2%, Professional, Scientific and Technical Services including R&D at 16.5%, Arts, Entertainment and Recreation Services at 16.4%, Insurance at 15.6%, Wholesale Trade at 15.3%, IT and Computer Related Services at 15.2%, Banking at 12.2%, Water Transport at 5.7%, Postal and Courier at 3.3%, and Information and Broadcasting at 2.5%.
Two sub-sectors recorded negative growth in April 2026. Air Transport declined 13.9% year-on-year, while Railway Transport slipped 0.4% compared with April 2025.
MoSPI said the trial ISP has a base year of 2024-25 and is compiled using data from GST, administrative and secondary sources, and the Annual Survey of Incorporated Services Sector Enterprises (ASISSE). The ministry said the monthly series is being published on an experimental basis to assess data quality, test resilience and gather stakeholder feedback. It also noted that the Railway, Banking and Insurance sub-sector indices are based on provisional monthly data and will undergo annual revisions.
The ministry added that WPI is used as the deflator for Wholesale Trade, while sector-specific or proxy CPI indices are used for other sub-sectors. CPI-General is used for Repair and Maintenance, Banking and Insurance, and CPI-Services is used where suitable sector-specific mapping is not available.
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