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India’s Services Index Shows Broad Growth Across Sectors
India has introduced a new monthly measure for activity in its services industries.
It tracks 19 parts of the services economy, such as banking, retail, transport and hotels.
In July 2026, 17 of these areas grew compared with July 2025.
Ten areas grew by at least 10 percent.
Administrative and support services grew the most, followed by retail trade.
Air travel became smaller, partly because higher energy prices were linked to the West Asia conflict.
Repair services also declined.
The index is still being tested before it becomes a regular official statistic.
Ten of 19 services sub-sectors recorded double-digit year-on-year growth in July 2026.
Seventeen sub-sectors expanded, while air transport fell 8.4% and repair services declined 5%.
Administrative and support services grew fastest at 20.9%, followed by retail trade at 18.5%.
The trial index uses 2024-25 as its base year and covers about 60% of India’s services economy.
The monthly index is intended to improve economic monitoring, GDP forecasting and monetary-policy assessment.
- Who
- India’s Ministry of Statistics and Programme Implementation released the trial Index of Services Production.
- What
- The July 2026 index showed growth in 17 of 19 tracked services sub-sectors, including double-digit growth in 10.
- Where
- India.
- When
- The data relate to July 2026 and were released on Tuesday.
- Why
- The index is being developed to provide a monthly measure of services activity and support GDP forecasting, monetary-policy assessment and business monitoring.
Key facts
- Coverage
- 19 services sub-sectors covering about 60% of India’s services economy
- Double-digit growth
- 10 of the 19 sub-sectors grew by at least 10% year on year
- Positive growth
- 17 of the 19 sub-sectors recorded positive growth
- Fastest-growing sector
- Administrative and support services grew 20.9%
- Largest contraction
- Air transport declined 8.4%; repair services fell 5%
- Base year
- 2024-25
- Status
- Trial series intended to test data quality, methodology and resilience
Quotes
Ministry of Statistics and Programme Implementation
India’s government ministry that released the trial Index of Services Production data
“10 out of the 19 sub-sectors recorded double-digit growth in July, 2026 as compared to July, 2025. 17 out of the 19 sub-sectors recorded positive growth in July 2026.”
financialexpress.com
Sources
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