Realty, retail & wholesale trade lead services expansion in June

New Delhi: India's services sector recorded broad-based growth in June, with 18 of 19 tracked segments expanding and eight registering double-digit gains, according to the official data released by the statistics ministry on Monday.

The trial Index of Service Production (ISP) showed that real estate, retail trade, wholesale trade, and accommodation and food services were among the fastest-growing segments of the service economy in June. In May, 16 of the 19 sectors grew, with eight recording double-digit expansion.

Real estate led the growth in June, expanding 24.7% from a year earlier, up from 17.7% in May. Retail trade followed with 18% growth, while wholesale trade grew 15.1%. Administrative and support services expanded 14.4%, IT and computer-related services grew 13.5%, and warehousing and support activities for transportation increased 11.8%.


Banking and accommodation and food services also recorded double-digit growth, rising 11.4% and 10.2%, respectively.

The Ministry of Statistics and Programme Implementation (MoSPI) launched the ISP in July, with 2024-25 as the base year.

The monthly trial index tracks output in 19 services sectors that together account for about 60% of the services sector.

Insurance grew 9.6% year-on-year in June, followed by telecommunications at 9.5% and professional, scientific and technical services, including research and development, at 9.1%. The transport sector posted mixed results. Road transport grew 9.7% and water transport increased 6.9%, while railway transport recorded more modest growth of 3.3%.

Air transport was the only sector to contract in June, declining 6% year-on-year. Elsewhere, postal and courier services grew 5%, while repair services expanded 7.5%. Arts, entertainment and recreation services increased 6.1%, and information and broadcasting services grew 4.6%.