India Plans New Monthly Headline Services Index to Give Investors Real-Time Economic Gauge
India plans to launch its first official monthly headline Index of Services Production within months.
The index will provide a real-time gauge of economic activity in the services sector, which dominates India's economy.
Trial monthly indices covering 19 sub-sectors (about 60% of the formal services economy) have been released.
Statistics Secretary Saurabh Garg said the composite index may initially use the existing 19 sectors, with expansion possible later.
The index aims to improve real-time economic assessment and strengthen quarterly GDP compilation.
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