What Is ISP? India's New Economic Indicator Coming Soon; Check Index's Launch Date & Sectors Covered

India is set to launch the Index of Services Production (ISP) in July 2026, and it will be used to measure the country's service-sector output on a monthly basis.

This is very similar to its counterpart, the IIP, which measures the economic growth of the industrial sector; ISP will track the service sector.

The idea is to track short-term activity in services the way the Index of Industrial Production tracks factory output.

According to a PIB note by the Ministry of Statistics and Programme Implementation (MoSPI), the first release is expected in July 2026, with trial monthly indices for FY 2025-26 and April 2026 slated for release on July 14, 2026.

The ISP will use 2024-25 as the base year and will be released monthly with an initial lag of about 60 days; the data will be published around the 29th of each month.

"The index will rely heavily on GSTN data, along with administrative records from ministries and regulators. Officials also plan to use the Annual Survey of Incorporated Services Sector Enterprises (ASISSE) as part of the framework," the MOSPI release stated.

Sector covered under ISP

The initial index will cover formal services such as:

• Wholesale and retail trade.
• Transport.
• Banking.
• Insurance.
• Telecommunications.
• Hotels and restaurants.
• Real estate.
• Professional, scientific and technical services.
• Arts, entertainment and recreation.

Two areas, health and education services, are expected to be added later once more data becomes available.

However, the ministry in the note mentioned that, "some of the sectors are not included in the list since they are either related to core government activities or are dominated by non-market activities and the informal sector."

The excluded services sub-sectors are:

• Public administration and Defence
• Financial services excluding Banking and Insurance (e.g. activities of the Central Bank, Money Market Funds)
• Social work activities without accommodation
• Services of membership organisations
• Personal services
• Activities of private households with employed persons
• Activities of extraterritorial organisations
• Health and Education services provided by Government and
• Gambling and betting activities