Hotels, restaurants lead services at 35%+ YoY growth in new MoSPI index
MoSPI's new Index of Services Production ranks hotels and restaurants as the fastest-growing segment at 35%+ YoY, against 20.8% overall April services growth. Signals robust consumer and hospitality demand for QSR and retail operators, even as railway (-0.4%) and air transport (-13.9%) lag.
New MoSPI Index of Services Production shows hotels and restaurants as fastest-growing services segment at 35%+ YoY, signaling strong consumer/hospitality demand relevant to Indian retail and QSR operators.
Why this matters
Builds on MoSPI's trial Services Production Index debut, which showed retail trade up 30.8% and hospitality up 37.2% YoY in April, reinforcing strong consumer and hospitality demand signals.
Footfall signals holding steady with 366 signals over the last 90 days.