MoSPI will launch the Index of Services Production (ISP) in July 2026 to provide a monthly measure of short-term growth in India’s formal services sector.
Key features
- Purpose: A services-sector counterpart to the Index of Industrial Production (IIP) for monthly tracking of formal services growth.
- Base year: 2024-25.
- Initial publication: Trial monthly indices for FY2025-26 and April 2026 scheduled for release on 14 July 2026.
Coverage and data sources
- Initial sectors: Wholesale & retail trade, transport, banking, insurance, telecommunications, hotels & restaurants, real estate, professional & technical services, arts & entertainment.
- Later inclusion: Health and education to be incorporated after ASISSE data availability.
- Primary data: Administrative records, GST returns and the Annual Survey of Incorporated Services Sector Enterprises (ASISSE).
Methodology and release cycle
- Index type: Fixed-weight Laspeyres volume index (uses constant base-year weights to compute volume change).
- Frequency and lag: Monthly compilation with an approximate 60-day publication lag; typically released on the 29th day of the month.
Technical oversight
- Advisory body: Technical Advisory Committee (TAC) on ISP constituted May 2025, chaired by Debjani Ghosh; approach paper issued April 2026 and TAC report expected by mid‑July 2026.
IASPOINT Booster Facts
- ASISSE: Annual Survey of Incorporated Services Sector Enterprises provides enterprise-level coverage for formal services.
- Laspeyres: Common for short‑term indices; holds weights fixed at base year to isolate volume movements.