India Launches Services Index to Strengthen Economic Tracking
India introduces the Index of Services Production to measure services sector growth with global statistical standards.
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“India Launches Services Index to Strengthen Economic Tracking”
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15 Jul 2026
New Delhi, July 15 (IANS) With the introduction of the Index of Services Production (ISP), India is advancing its statistical system with global standards, as services sector has become a key driver of economic growth and employment generation and the government aims to position the country as a world leader in services, targeting a 10 per cent share in global services by 2047.
According to an official factsheet, the ISP is India's first high-frequency indicator dedicated to measuring services sector output.
It tracks short-term changes in the volume of output produced by the formal services sector relative to a specified base year.
