India's New GST Services Index Faces Measurement Gaps - Whalesbook

New Index to Track India's Services Output Using GST Data India is introducing a new monthly Index of Service Production (ISP) to offer more frequent data on its large services sector, which accounts for over half of the nation's Gross Value Added (GVA). With a 2024-25 base year, the ISP aims to provide insights similar to the Index of Industrial Production (IIP) for manufacturing, addressing a lo…