New govt services index shows retail trade up 30.8%, hospitality up 37.2%
MoSPI's first trial Index of Services Production for April shows 14 of 19 sub-sectors posting double-digit growth. Retail trade jumped 30.8% and accommodation and food services 37.2% year-on-year. The 2024-25 base-year index covers ~60% of services and offers new monthly tracking of formal retail and consumer output.
Govt released first trial Index of Services Production for April; retail trade grew 30.8% and accommodation/food services 37.2% year-on-year, providing new monthly data tracking India's formal retail and consumer services output.
Why this matters
MoSPI's first services production index follows its planned nationwide retail consumption survey and May CPI data showing 3.93% inflation, adding a monthly gauge of formal retail and hospitality output.
Retail-company signals accelerating, up 782900% QoQ.