India’s new services speedometer flashes green across 17 sectors

India's services sector has shown significant growth across 17 of its 19 sub-sectors in July, according to the newly introduced Index of Services Production. This is a positive sign for the Indian economy, indicating a strong expansion in various industries such as administrative and support services, which grew at a rate of 20.9%, and retail trade, which grew at 18.5%. This growth is crucial for India's economy, as the services sector contributes a large portion of the country's GDP.

Why it matters

India's services sector is growing, with 17 of 19 sub-sectors reporting year-on-year increases. This growth could lead to increased economic activity and investor confidence.

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