Economy News

Index of Services Production

July 3 , 2026 16 hrs 0 min 52 0

The Ministry of Statistics and Programme Implementation (MoSPI) will launch the Index of Services Production (ISP) in July 2026 on a trial basis.
ISP is a monthly high-frequency indicator that measures the real output of India's formal services sector, similar to the Index of Industrial Production (IIP) for industries.
It was developed by a Technical Advisory Committee (TAC) chaired by Debjani Ghosh to improve economic monitoring and policymaking.
The ISP uses 2024–25 as the base year and follows the fixed-weight Laspeyres volume index method with Gross Value Added (GVA)-based sector weights.
It uses Goods and Services Tax (GST) data, administrative data, and the Annual Survey of Incorporated Services Sector Enterprises (ASISSE), while excluding the informal sector, public administration, defence, and other non-market services.