India, July 13 -- Despite global headwinds, India's economy has demonstrated resilience, supported by sustained manufacturing performance and strong growth in the services sector. Today, services contribute about 52.9% of Gross Value Added (GVA), employ nearly 30% of the country's workforce and have made India one of the world's leading exporters of services. The sector deserves a renewed focus and better monitoring in consonance with its role in the economy.

There is no high-frequency indicator for service-sector performance. To address this gap, the ministry of statistics and programme implementation (MoSPI) launched the Annual Survey of Incorporated Services Sector Enterprises (ASISSE) and the Index of Services Production (ISP). These...