Story perspectives

April 2026 Services Index Shows 30%+ Growth, Transport Slumps

7/15/2026

Summary

Story summary

MoSPI released the Index of Services Production for April 2026.
A Advisory Committee formed in May 2025 built the index from GST, admin data and the ASISSE survey, covering 19 sub-sectors (?60 % of services).
Sectors grew, led by accommodation & food (+37.2 %), retail (+30.8 %), admin-support (+28.7 %) and real estate (+27.7 %).
Telecom rose 22.8 % while transport fell 13.9 % and rail fell 0.4 %.
MoSPI will publish ISP data on the 29th with a 60-day lag.

History

Historical Context

Facing a 1991 balance-of-payments crisis, Prime Minister P.V. Narasimha Rao and Finance Minister Manmohan Singh secured an IMF bailout and dismantled the Licence Raj, opening foreign investment and spurring services growth that reached about 55 % of GDP by 1995. The MoSPI services-production index now records a 37.2 % rise in accommodation, echoing that liberalisation surge.

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Story summary

MoSPI released the Index of Services Production for April 2026.
A Advisory Committee formed in May 2025 built the index from GST, admin data and the ASISSE survey, covering 19 sub-sectors (?60 % of services).
Sectors grew, led by accommodation & food (+37.2 %), retail (+30.8 %), admin-support (+28.7 %) and real estate (+27.7 %).
Telecom rose 22.8 % while transport fell 13.9 % and rail fell 0.4 %.
MoSPI will publish ISP data on the 29th with a 60-day lag.

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