Key facts
- India plans to integrate artificial intelligence into its official data systems.
- A national business register is being developed.
- The government is considering recognizing data as an economic asset.
- These changes are part of modernizing the country's statistical architecture.
- The Ministry of Statistics and Programme Implementation (MoSPI) is spearheading these efforts.
India is set to undergo a significant modernization of its statistical system, with plans to incorporate artificial intelligence, establish a national business register, and explore the concept of data as an economic asset. These initiatives, led by the Ministry of Statistics and Programme Implementation (MoSPI), aim to enhance the accuracy and timeliness of economic data.
According to MoSPI Secretary Saurabh Garg, a dedicated sub-committee has been formed to examine the technical aspects of implementing the United Nations System of National Accounts (SNA) 2025, which includes recognizing data as an asset. This move follows previous revisions to key economic indicators like GDP and CPI.