logo
Top statistician urges India to boost data access for accurate metrics

Top statistician urges India to boost data access for accurate metrics

A senior Indian statistician is urging greater data-sharing with the federal government, including access to mobile payments and official records, to improve the accuracy and reliability of key economic indicators.
Many institutions — including banks, payments companies, transport providers, and even government departments such as tax and railways — are reluctant to share data with the federal government due to privacy and legal concerns, said Rajeeva Laxman Karandikar, chairman of the National Statistical Commission, the top advisory body to the Ministry of Statistics and Programme Implementation, in an interview Wednesday.
'But high level policy decisions need to be taken as to what can be shared,' he added. Talks are underway to share masked or aggregated data by area codes, which could significantly improve accuracy, though the discussions are still at an early stage, Karandikar said.
With India's economy expanding rapidly and global investor interest growing, official figures are facing more scrutiny. Calls are mounting for more accurate economic data that captures the real picture on the ground, helping policymakers tailor policies for the nation's growing needs.
Yet, data sharing between key government departments remains a challenge due to gaps in governance, infrastructure, and concerns over data protection, making it tough to find the right balance between information and privacy.
In recent months, the government has taken several steps to address those concerns, including announcing plans to conduct a population census, regularly releasing surveys to improve economic datasets like inflation and gross domestic product and publishing monthly labor data.
Karandikar said various developed countries have already figured out how to share relevant data internally. 'India has not done that fast enough. We need to move in that direction,' he added.
The commission has also recommended that the government reduce delays in data releases. Broader adoption of digital tools and better access to existing data would help shorten timelines, Karandikar said. 'Unless we change and bring in this information technology infrastructure, we will become obsolete,' he said.
Karandikar also emphasized the need for more short-term surveys instead of year-long exercises that take too long to process. 'The old methodology of data collection, transmitting, compiling and processing has to change,' he said, adding that the government has already begun implementing some of these changes.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nifty just in pause mode, all-time high possible before Diwali: Rahul Ghose
Nifty just in pause mode, all-time high possible before Diwali: Rahul Ghose

Economic Times

time23 minutes ago

  • Economic Times

Nifty just in pause mode, all-time high possible before Diwali: Rahul Ghose

Markets extended their losing streak for the third consecutive week, with investor sentiment remaining subdued due to a lackluster start to the earnings season and ongoing uncertainty surrounding the US-India trade to the previous week, the benchmark indices showed some strength during the initial three sessions. However, the mood shifted in the latter half, leading both the Nifty and Sensex to end near their weekly lows at 24,968.40 and 81,757.73, respectively. Analyst Rahul Ghose, Founder and CEO, Octanom Tech and interacted with ET Markets regarding the outlook on Nifty and Bank Nifty for the upcoming week. Following are the edited excerpts from his chat: How are you reading the markets right now? Right now, Indian markets are taking a much-needed breather. After a strong run earlier in the year, we've hit a consolidation phase—Nifty and Sensex have been under pressure for a few weeks in a row. There's definitely a sense of caution out there, partly because of mixed global signals and Q1 earnings being in focus. I'd say investors are taking stock and waiting to see which way the wind blows before making big moves. Make no mistake though, that the August month is going to see some big moves in the market in either direction. Are there any global factors that you see that can affect our markets?Definitely—global cues are a big part of the story at the moment. First, persistent FII outflows are weighing on sentiment; foreign investors are pulling back as US rates stay higher for longer, making developed markets a bit more attractive than emerging ones like India for we can't ignore geopolitical tensions and how they've pushed up crude oil prices. Since India is a big importer, that's an immediate worry for both inflation and the rupee. And then there's the recent wave of trade protectionism—we've seen new tariffs and measures from the US and EU, which isn't great news for Indian exporters. All in all, the external environment is a bit choppy. What's your take on the broader Nifty trend, with the index ending lower for the third straight week? The Nifty's certainly feeling the heat after its blistering rally earlier in the year. If you look at the charts, the index is at an inflection point: there's firm resistance at the 25,300 mark and support near the 24500-24800 band. For now, it looks like a consolidation phase, not a reversal. The long-term bullish story remains intact, and I would stick my neck out and say that before Diwali, we might see the Nifty move to all-time high levels; it's just the near term that can see volatile moves. Bank Nifty seemed stronger—how does it look now? Bank Nifty has been the surprising pocket of strength—it's held up better than broader indices so far and has been attracting buyers on dips. Right now, though, it's also showing signs of consolidation. Financial stocks are in a wait-and-watch mode with Q1 results coming in. I'd say Bank Nifty is still on a stronger footing, especially compared to sectors facing margin or demand pressures. Any specific strategies for Nifty and Bank Nifty traders? For Nifty, my advice would be to watch for confirmed breakouts or breakdowns and avoid getting caught in the chop. If we break above 25,255 decisively, there could be quick upside—but keep tight stop-losses at 25,000, as volatility remains Bank Nifty, buying on dips near 56,800–57,000 seems sensible, since the index is drawing buying interest at those levels. But be nimble; set clear exit points because sentiment can change quickly if results underwhelm. FIIs remain net sellers. What do you make of this, and how dependent is the market on FIIs now? Yes, FII outflows are back in focus—over Rs 90,000 crore has left Indian equities this year, and July alone saw a sharp exodus. This is really about global risk-reward equations changing, not anything fundamentally wrong with India. Higher US yields and stretched valuations here mean foreign money is seeking other said, India isn't as dependent on foreign flows as it once was. Domestic investors—both institutional and retail—are much more active and have been buyers on every dip. So, while FIIs can amplify short-term moves, domestic participation is giving our market a lot more resilience. Where did you see a long buildup? What do you recommend among those stocks? We're seeing long positions being built in names like Tata Consumer, Tata Steel, Hindalco, Trent, and M&M—sectors where earnings visibility is strong and thematic tailwinds exist. Out of these, I particularly like Tata Consumer and Trent for accumulation; both have good momentum and structural growth stories. And what about shorting opportunities? Short buildups have shown up in Tech Mahindra, IndusInd Bank, Infosys, SBI Life, and Wipro—mainly IT and a few financials hurt by guidance trims and margin pressure. These could be tactical short candidates, but my advice is to stay nimble here, as oversold bounces are also likely. Let's also discuss Q1 earnings. How has the season turned out so far? Q1 numbers are a bit of a mixed bag. The headline Nifty 50 net profit growth—over 33% YoY—is impressive, but most of that came from margin expansion in consumer and retail names, and a few standout quarters in metals. IT and some global cyclicals have been softer, which is why the market tone is more cautious. What's your view on RIL and Axis Bank after Q1 results? Reliance had a blockbuster quarter, driven by a huge jump in profits from telecom and retail. The Jio 5G rollout and robust retail segment are big positives. The Asian Paints stake sale also gave them a healthy one-off Bank delivered on the operating front, with stable core growth and healthy other income. While the headline profit was down YoY—mainly from base effect and some provisioning—the underlying business looks steady and the outlook remains constructive. How do you see HDFC Bank and ICICI Bank placed now? Both are in a strong spot, barring some short-term volatility. Their loan growth remains robust, digital initiatives are paying off, and asset quality is stable. They're both still 'core portfolio' names for most investors, and any meaningful corrections are likely to draw buyers quickly. Are any sectors outperforming? Yes, consumer durables have been a clear standout—profit growth has exploded, and demand trends look solid. Metals have rebounded thanks to commodity price cycles, and realty stocks are holding up well thanks to strong housing and telecom are also shining, with leaders consolidating market share and improving margins. Can you name any stocks within those sectors? In consumer durables, Titan and Voltas look good. Among metals, Tata Steel and Hindalco are my preferred picks. On the retail side, Trent and DMart are doing everything right, and in telecom, I like Reliance Jio and Bharti Airtel for steady subscriber and revenue growth. Technically too the chart patterns in these suggest buy on dips. Note: In case any specific security/securities are displayed in the responses as examples, these securities are quoted are for illustration only and are not recommendatory. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Meet brothers who are buying famous luggage brand from Mukesh Ambani's relative, once sold their company to Ratan Tata, now planning to…, they are…
Meet brothers who are buying famous luggage brand from Mukesh Ambani's relative, once sold their company to Ratan Tata, now planning to…, they are…

India.com

time23 minutes ago

  • India.com

Meet brothers who are buying famous luggage brand from Mukesh Ambani's relative, once sold their company to Ratan Tata, now planning to…, they are…

Famous Indian businessman Dilip Piramal is set to sell his company, VIP Industries, the famous luggage brand. It has been known for a while that he wanted to sell his business. But it was not clear who was going to buy it. However, that mystery has now been solved, as the names of the buyers have come to light. First, let's talk about the chairman, Dilip G Piramal. He is a Commerce graduate and an experienced industrialist who has pioneered the luggage industry in India. He has an experience of more than 50 years in the luggage industry. Established in 1968, VIP Industries Limited is amongst the World's leading manufacturers and retailers of luggage, backpacks, and handbags and an established leader in the organised luggage market in India. Dilip Piramal stated that his family's younger generation has no interest in running the business. This statement came soon after the company announced it would sell a 32% stake to a group of private equity investors and others, signaling a fundamental reorganization of the family-owned luggage company. While speaking to NDTV Profit, Piramal stated,' We are a family-owned business, and the next generation is not very keen on running it.' This group of buyers involves several private equity funds, as well as individual investors, including Mithun Padma Sacheti and Siddharth Sacheti. It is noteworthy that Mithun and Siddharth Sacheti are individual shareholders of VIP Industries. So, who are these Sacheti brothers? What do the new owners of VIP Industries precisely do? Mithun and Siddharth Sacheti are the sons and Padam Sacheti's sons of Jaipur Gems. Notably, Mithun Sacheti was the founder of the leading popular jewellery brand called CaratLane, which he subsequently sold to Titan, a Tata Group company. Mithun Sacheti started CaratLane in 2016, and after 8 years, the Tata Group acquired this jewellery business. Currently, Mithun Sacheti is an Independent Director at Metro Brands, and Siddharth Sacheti is running the family business, Jaipur Gems. They also have stakes in several other companies, including the well-known Nazara Technologies. So why Dilip Piramal is selling the company? Dilip Piramal, the founder of VIP Industries, is selling the company after 57 years largely because the next generation in his family is not interested in carrying on the business with him and also the company has been underperforming in the last five years. Dilip Piramal has two daughters, Radhika and Aparna, and he told me that neither one is interested in carrying on with the business.

Replacement demand to drive tyre sector revenues by 7-8% this fiscal: Crisil
Replacement demand to drive tyre sector revenues by 7-8% this fiscal: Crisil

Mint

time23 minutes ago

  • Mint

Replacement demand to drive tyre sector revenues by 7-8% this fiscal: Crisil

New Delhi [India], July 20 (ANI): India's tyre sector is set to see steady revenue growth of 7-8 per cent this fiscal, driven by replacement demand that accounts for half of annual sales, even as offtake by original equipment manufacturers (OEMs) will likely be subdued and exports steady, said Crisil Ratings in a report. The report added that the rising premiumisation is expected to give a slight leg-up to realisations. However, escalating trade tensions and the risk of dumping by Chinese producers diverting inventories because of US tariffs could pose challenges. Operating profitability is likely to remain steady at 13-13.5 per cent, supported by stable input costs and healthy capacity utilisation. This, along with strong accruals, lean balance sheets and calibrated capital spending, should help sustain the sector's stable credit outlook, the report added. The Indian domestic demand remains the mainstay, propelling 75 per cent of total volume with exports making up the rest. Anuj Sethi, Senior Director, Crisil Ratings, said, "Volume growth is seen at 5-6 per cent this fiscal, mirroring last fiscal. The replacement segment (accounting for 50 per cent of volume) is set to grow 6-7 per cent on the back of a large vehicle base, strong freight movement and rural recovery. OEM volume (25 per cent) will likely rise 3-4 per cent, supported by steady two-wheeler and tractor sales, and modest growth in passenger vehicles and commercial vehicles. Export volume (25 per cent) is expected to grow 4-5 per cent, supported by demand from Europe, Africa and Latin America."The report further added that the export momentum, however, comes with risks. The US, accounting for 17 per cent of India's tyre export volume last fiscal, and 4-5 per cent of overall industry volume, has imposed reciprocal tariffs on several Indian goods, potentially eroding price competitiveness. And steep US tariffs limit China's access to that market, raising the risk of excess supply being divertedinto price-sensitive markets such as India. To curb cheap imports, India imposes anti-dumping and countervailing duties, including a 17.57 per cent levy, on large truck and bus radial tires from China. However, a broader influx of low-cost tyres across other segments could pressure domestic realisations without timely safeguards. Besides, stiff competition in the replacement market will keep operating profitability rangebound at 13.0-13.5 per cent this fiscal. With nearly half of the raw material imported, the sector is exposed to global prices and fluctuations in foreign exchange rates. Poonam Upadhyay, Director, Crisil Ratings, said, "India's tyre sector, grappling with margin pressure, could see price competition intensify if US tariffs push low-cost Chinese products being dumped. Competitive intensity is already capping realisations in the replacement segment, so the risk of prolonged under-recovery of input cost remains high. To counter, manufacturers are likely to maintain capital expenditure (capex) at ~ ₹ 6,000 crore this fiscal, focused on high-utilisation passenger car radials and two-wheeler capacities, along with automation and backward integration to improve cost efficiency and protect profitability." In fiscal 2025, natural rubber prices surged 8-10 per cent owing to supply disruptions andas prices of crude-linked inputs such as synthetic rubber and carbon black rose 10-12 per cent. This led to margin erosion by 300 basis points, given the limited cost pass-through in the OEM and replacement segments, the report added. (ANI)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store