India launches monthly index of services production tracking formal services
India just launched the Index of Services Production (ISP), a monthly tracker for how formal services are doing: think hotels, retail, real estate, and more.
This new index covers about 60% of the formal sector (so not including informal or government-heavy areas) and is set to help us see which parts of the economy are growing fastest.
In April 2026, 14 out of 19 tracked sectors saw double-digit growth.
Accommodation 37.2% retail nearly 31%
Accommodation and food services shot up by 37.2%, retail trade jumped nearly 31%, admin support grew almost 29%, and real estate was up about 28%.
On the flip side, air transport dropped by nearly 14%, while railways slipped just a bit.
The ministry says the trial ISP uses GST and other data to get a clearer picture, with updates coming every month on the 29th.