MoSPI to launch monthly Index of Service Production using GSTN data, covering retail and food services
India's statistics ministry proposes a high-frequency services output gauge built on GST and administrative data, with 2024-25 as base year. Wholesale/retail trade, accommodation and food services are in scope—giving retailers and policymakers their first official monthly read on services activity alongside IIP and CPI.
What happened
MoSPI proposes a monthly Index of Service Production using GSTN and administrative data, covering wholesale/retail trade, accommodation, food services, telecom
Key facts
- 2024-25 base year
- May 5 deadline
- 33% informal services excluded
- 10% GVA health/education
- <20% services covered by existing data
Why this matters
A GSTN-derived monthly services index will surface category- and geography-level activity divergences earlier, helping us time M&A entry points in retail, QSR, and hospitality before they show up in headline GDP prints.