India to launch first-ever monthly Index of Services Production (ISP) from July 14
The Ministry of Statistics and Programme Implementation (MoSPI) announced on June 24, 2026 that India will release its first-ever monthly Index of Services Production (ISP), a high-frequency gauge of the services sector modelled on the Index of Industrial Production (IIP). The ISP will use a base year of 2024-25 — in line with the recently revised CPI series — and will be published with a lag of about 60 days, on the 29th of each month (or the next working day). The first trial indices, covering FY26 and April 2026 data, will be released on July 14, 2026. The index will draw substantially on Goods and Services Tax (GST) data to track services activity, which contributes more than half of India's economic output and has so far lacked a dedicated monthly indicator.
Key Facts & Details
9 points- 1MoSPI will launch India's first-ever monthly Index of Services Production (ISP) from July 14, 2026.
- 2The ISP is the services-sector counterpart to the IIP, with base year 2024-25.
- 3It will be released with a roughly 60-day lag, on the 29th of each month (or next working day).
- 4The first trial indices (for FY26 and April 2026) will be published on July 14, 2026.
- 5The index will rely substantially on GST data; services contribute over half of India's output.
- 6It fills a long-standing gap, as the dominant services sector previously had no high-frequency monthly index.
Deep Dive
- +The 2024-25 base year aligns the ISP with the recently rebased Consumer Price Index series.
- +The Index of Industrial Production (IIP), which the ISP mirrors, tracks manufacturing, mining and electricity output.
- +High-frequency services data can sharpen GDP nowcasting and policy decisions by the RBI and the government.
Exam Focus
Examiners may test the index name (Index of Services Production / ISP), the issuing body (MoSPI), the base year (2024-25), the launch date (July 14, 2026) and the comparison with the IIP.
Related Topics
Exam Relevance & Angle
New official statistical indicators are recurring Reports & Indexes GA; the ISP name, its issuer MoSPI, the 2024-25 base year and the July 14, 2026 launch are precise, testable hooks, and the IIP analogy links it to the economy syllabus.
Target Exams
Background & Context
The Ministry of Statistics and Programme Implementation (MoSPI) is the nodal body for India's official statistics, compiling the GDP, the Consumer Price Index (CPI) and the Index of Industrial Production (IIP). The IIP, released monthly with a base year of 2011-12, tracks output in mining, manufacturing and electricity. India's economy, however, is services-led — services account for well over half of Gross Value Added — yet, unlike industry, the sector lacked a comparable high-frequency monthly index. The base year of an index is the reference period (set at 100) against which changes are measured, and is periodically updated to reflect the current structure of the economy. The Goods and Services Tax (GST), rolled out in 2017, generates rich transaction data now being used to build the ISP.
Related GK Concepts
Must KnowTest Yourself
1 / 2The Index of Services Production (ISP), to be launched in July 2026, will use which base year?
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