New Delhi, July 15 -- The Ministry of Statistics and Programme Implementation (MoSPI) has launched the Index of Services Production (ISP) with 2024-25 as the base year, introducing a monthly indicator to track short-term performance in India's formal services sector.

MoSPI Launches Monthly Services Production Index

The first set of ISP data has been released for April 2026, covering 19 service sub-sectors. The index marks a significant step in strengthening India's macroeconomic statistics, with the formal services sector accounting for more than half of the country's economic activity.

According to MoSPI, the ISP provides, for the first time, a monthly measure of activity covering around 60 percent of the formal services sector.

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