New Delhi, July 7: The Central Government is set to launch a new monthly Index of Services Production from July 14, aimed at providing a clearer picture of the performance and growth trends of India’s rapidly expanding services sector.
The new index will track changes in service-sector activity and provide timely data to policymakers, businesses, and researchers for better assessment of economic trends.
The services sector plays a crucial role in India’s economy, contributing significantly through industries such as information technology, finance, transport, communication, trade, and professional services. The introduction of a monthly index is expected to improve the monitoring of these activities and strengthen economic analysis.
Officials said the initiative will help capture the changing dynamics of the services economy and provide a more regular indicator of sectoral performance.
The launch reflects the government’s efforts to enhance the country’s statistical systems and provide more accurate, timely, and comprehensive economic data for planning and decision-making.