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Economic Times
17 hours ago
- Business
- Economic Times
India to set data standards for developed nations to follow: CEA
(You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: India will soon set the global standards and benchmark in data, chief economic adviser (CEA) V Anantha Nageswaran said on Thursday. "We are now going to be able to set the benchmark for developed countries to follow" the CEA said, pointing to concerns over data quality US President Donald Trump fired the labour statistics chief for publishing inaccurate jobs numbers. In the UK, the statistical authority has called for structural reforms within the organisation. Speaking at a sensitisation and review meeting with statistical advisers of ministries and government departments organised by the Ministry of Statistics and Programme Implementation (MoSPI), Nageswaran noted the importance of generating timely, credible and user-friendly data."It goes without saying that data and statistics are fundamental to an efficient or informed decision-making process, whether in a corporate setup or government institution," he said. Speaking at the meeting, former Capacity Building Commission chairman Adil Zainulbhai said: "We have an opportunity to upgrade enough for our data systems to become gold standard for the world." He highlighted the need to leverage technology for this purpose across ministries and an aim to make data more robust, the statistics ministry will come up with a Service Production Index , like the Index of Industrial Production (IIP) that tracks industrial activity in India.
Time of India
18 hours ago
- Business
- Time of India
India to set data standards for developed nations to follow: CEA
New Delhi: India will soon set the global standards and benchmark in data, chief economic adviser (CEA) V Anantha Nageswaran said on Thursday. "We are now going to be able to set the benchmark for developed countries to follow" the CEA said, pointing to concerns over data quality worldwide. Independence Day 2025 Before Trump, British used tariffs to kill Indian textile Bank of Azad Hind: When Netaji gave India its own currency Swadeshi 2.0: India is no longer just a market, it's a maker Recently, US President Donald Trump fired the labour statistics chief for publishing inaccurate jobs numbers. In the UK, the statistical authority has called for structural reforms within the organisation. Speaking at a sensitisation and review meeting with statistical advisers of ministries and government departments organised by the Ministry of Statistics and Programme Implementation (MoSPI), Nageswaran noted the importance of generating timely, credible and user-friendly data. "It goes without saying that data and statistics are fundamental to an efficient or informed decision-making process, whether in a corporate setup or government institution," he said. Speaking at the meeting, former Capacity Building Commission chairman Adil Zainulbhai said: "We have an opportunity to upgrade enough for our data systems to become gold standard for the world." He highlighted the need to leverage technology for this purpose across ministries and departments. With an aim to make data more robust, the statistics ministry will come up with a Service Production Index , like the Index of Industrial Production (IIP) that tracks industrial activity in India.
