Next week, India will introduce a new high-frequency indicator to track activity in the country's services economy, marking a major expansion of the statistical toolkit used to assess short-term economic trends. The Ministry of Statistics and Programme Implementation (MoSPI) is set to release the first Index of Services Production (ISP), based on 2024-25 as the new base year, on July 14. The indicator is designed to provide policymakers, businesses and investors with a more timely picture of economic activity in a sector that now contributes well over half of India's gross value added (GVA).