India debuts trial Services Production Index; retail trade jumps 30.8% in April data
MoSPI's new high-frequency Index of Services Production tracks 19 sub-sectors covering 60% of the services economy, with 14 posting double-digit growth. Retail trade rose 30.8% and accommodation/food services 37.2%, though air transport fell 13.9% amid West Asia conflict.
Government launched trial Index of Services Production tracking retail trade (up 30.8%) and accommodation/food services (up 37.2%). New high-frequency indicator gives category-level visibility into India's formal retail and consumer-facing services activity.
Why this matters
MoSPI's debut trial Services Production Index adds high-frequency visibility on retail and hospitality, following its plans for India's first nationwide retail consumption survey.
Retail-company signals accelerating, up 783000% QoQ.