Eight sectors post double-digit growth in May trial services index

In May 2026, India's trial Index of Services Production (ISP) showed that eight out of 19 tracked sectors grew by more than 10%.

This includes important areas like retail trade, accommodation and food, telecommunication, banking, and IT services.

The overall growth was 9.8%, which is less than the 20.8% growth seen in April.

Some sectors like air transport and broadcasting services saw a decline.

The ISP is a new way to measure the services sector, which makes up more than half of India's economy.

It uses data from Goods and Services Tax (GST) and other sources to track real output.

The goal is to have a monthly update on the services sector, similar to how the Index of Industrial Production (IIP) tracks manufacturing.

The data suggests strong growth in the services sector, but there are also some areas of concern, like the slowdown in certain sectors and the impact of external factors like the West Asian conflict.