India to Frame Blueprint for Knowledge Economy Growth

The Ministry of Statistics and Programme Implementation (MoSPI) seeks public feedback on a new framework to measure the economic value of knowledge sectors in India. This unprecedented initiative involves experts and stakeholders to integrate knowledge with economic growth against the backdrop of rapid technological changes and complex skill demands.

The Ministry of Statistics and Programme Implementation (MoSPI) has called for feedback from stakeholders and the public on a pioneering framework designed to evaluate the economic impact of India's knowledge and innovation-based sectors. This initiative aims to underline the significance of knowledge in India's economy amidst fast-paced technological advancements and evolving skill demands.

The MoSPI, emphasizing the uniqueness of this initiative, has crafted a framework with guidance from a Technical Advisory Group (TAG) chaired by Dr. R Balasubramaniam. Formed following a significant meeting led by Principal Scientific Advisor to the Government, Prof Ajay Kumar Sood, the TAG comprises experts from think tanks, industry, academia, and government ministries.

A comprehensive Base Paper was developed based on TAG's insights and attempts to define the contribution of knowledge to GDP. This initiative progresses towards the creation of an Actionable Policy Paper, under the leadership of Ratan P Watal, with public comments invited until June 15, concluding the consultative phase.