India's first Services Production Index shows retail up 30.8%, hotels/restaurants up 37.2% in April
MoSPI's inaugural Index of Services Production points to a broad consumer-demand upswing, with 14 of 19 segments growing over 10%. Hotels/restaurants/food led at 37.2%, retail at 30.8%, and real estate at 27.7%. Air travel (-4%) and railways (-0.4%) lagged the rebound.
India's first Index of Services Production shows April growth led by hotels/restaurants/food (37.2%) and retail (30.8%), signaling strong consumer-facing demand across retail and hospitality categories relevant to Indian operators.
Why this matters
MoSPI's trial Services Production Index debut confirms a broad consumer-demand upswing, echoing prior readings of hotels and restaurants leading services at 35%+ and retail trade jumping 30.8% in April.
Footfall signals held steady with 386 signals tracked over the past 90 days.