India's Biggest Economic Data Upgrade? CEA Explains New Monthly Services Index

India has unveiled its first-ever Monthly Index of Services Production (MISP), marking a significant step in how the country's economy is measured. Chief Economic Advisor V. Anantha Nageswaran explains why the new index is a major milestone, noting that while industry has long had monthly production data, the services sector—which accounts for more than half of India's economy—has lacked a comparable indicator. Powered by GST data and digital public infrastructure, the new index is expected to provide policymakers, businesses and investors with more timely insights into economic activity. Watch to understand why this statistical upgrade could reshape the way India's growth is tracked and why the trial series is being hailed as a landmark reform