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Recent Current Affairs related to Services

3 News
21 July 2026 ECONOMY

The Ministry of Statistics and Programme Implementation (MoSPI) has launched India's first trial Index of Services Production (ISP) for April 2026. This high-frequency monthly indicator serves as the services-sector counterpart to the Index of Industrial Production (IIP).

The trial series uses 2024-25 as the base year and is structured according to the National Industrial Classification (NIC), 2025. The ISP covers 19 service sub-sectors, with updates scheduled to be released on the 29th of every month.

3 July 2026 REPORTS

According to the 8th edition of the 'Trade Watch Quarterly (TWQ)' released by the NITI Aayog for Q4 FY26, the total merchandise and services trade of India expanded by 5.4% to $1.84 trillion.

The report states that the global pharmaceutical market recorded a demand of $1.3 trillion in 2025. India's pharmaceutical sector contributes over 1.7% to the national Gross Domestic Product (GDP) and 7.2% to the manufacturing Gross Value Added (GVA).

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