India services output rose in 17 of 19 sub-sectors in July
In short
India’s new services index showed growth in 17 of 19 sub-sectors in July. Administrative and support services rose 20.9%, and retail trade rose 18.5%.
This suggests the services economy was strong in that month. The report also says some areas, including air transport and repair services, shrank, but it does not give exact numbers for them.
What the reporting says
India’s new Index of Services Production showed July growth across 17 of 19 services sub-sectors, led by administrative and support services at 20.9% and retail trade at 18.5%. The ET summary says the gauge was introduced to give timely insight into services activity, while air transportation and repair services contracted. The immediate implication is firmer evidence of broad services momentum, though the exact macro impact is not stated.
Why it matters
India’s Index of Services Production showed July growth in 17 of 19 sub-sectors, with administrative and support services up 20.9% and retail trade up 18.5%. The ET summary says the new gauge is meant to provide timely insight into services activity. It also notes that air transportation and repair services contracted, so the picture was broad but not uniform.