India, April 27 -- The Government of India has issued a release:
The services sector is the most dynamic and rapidly expanding segment of the economy. In terms of economic significance, the services sector contributes more than half of India's GDP, generates millions of jobs and has been a major catalyst for the country's economic transformation in the last few decades.
Unlike the Index of Industrial Production (IIP) for the industrial sector, at present, there is no Index of Service Production (ISP) to capture short-term movements in the services sector. NSO, MoSPI has been grappling with the issue of compilation of Index of Service Production for quite some time. Due to limited data availability, the past were met with significant chall...