New framework in works to put a number on knowledge economy

New Delhi: The statistics ministry is examining a proposed framework to measure India’s expanding knowledge economy, with a committee recommending separate statistical accounts for areas such as artificial intelligence (AI), research and development (R&D), and human capital.

The exercise aims to strengthen India’s ability to measure how knowledge, innovation and technological capabilities contribute to economic growth. The Committee on Knowledge Systems, chaired by former finance secretary Ratan P Watal, has proposed developing a family of thematic statistics and accounts aligned with the System of National Accounts (SNA) 2025.