Real estate powers services sector in June; retail and IT post double-digit gains — what govt data shows

Eight of the 19 sub-sectors tracked by the government recorded double-digit growth in June 2026 compared with the same month a year earlier, with real estate emerging as the strongest performer, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI).

The ministry released the June 2026 Index of Services Production (ISP) covering 19 sub-sectors, using 2024-25 as the base year. "Eight out of the 19 sub-sectors recorded double-digit growth in June 2026 as compared to June 2025," the release said, adding "18 out of the 19 sub-sectors recorded positive growth in June 2026." Real estate registered the highest growth during the month at 24.7%, followed by retail trade at 18%, wholesale trade at 15.1%, administrative and support services at 14.4%, and IT and computer-related services at 13.5%, the data showed.

The services sector data came alongside the release of India’s latest gross domestic product (GDP) figures on Monday. The data showed that India’s real GDP expanded 7.8% in the first quarter of financial year 2026-27 (April-June), surpassing the Reserve Bank of India’s earlier estimate of 7% for the period.

The latest figures indicate that the Indian economy continued to maintain strong growth momentum despite a challenging global environment and external headwinds. Real GDP was estimated at ₹81.36 lakh crore in the first quarter of FY27, compared with ₹75.46 lakh crore during the corresponding period of the previous financial year.

This represented year-on-year growth of 7.8%. The quarterly expansion was higher than the RBI’s earlier projection of 7%. The central bank has also raised its full-year GDP growth forecast for FY27 to 6.7%, from its previous estimate of 6.6%.

Nominal GDP, which measures economic output at current prices without adjusting for inflation, also recorded robust growth during the April-June quarter. Nominal GDP stood at an estimated ₹88.27 lakh crore in Q1 FY27, up from ₹80 lakh crore in the same quarter of FY26.

This translated into year-on-year growth of 10.3%. The combination of strong real GDP growth and broad-based expansion across several services sub-sectors points to continued resilience in domestic economic activity. MoSPI is scheduled to publish the next set of quarterly GDP estimates, covering the July-September period or Q2 of FY27, on 30 November 2026.

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