Data as an engine of national economic growth

18 NOV,2019 | MEDC


 

India is rapidly becoming the largest data-rich democracy in the world. That is a fact we need to use to our advantage. In no other major economy is data available so cheaply and so freely to the end-user. Socially relevant applications that build on data are limited only by the imagination. Unfortunately, the data revolution has not yet realized its full potential in India due to infrastructural constraints and communication gaps between various government departments. The task of harnessing concrete socioeconomic value from the mountains of data available to us is too important to be left to chance. In this context, entrepreneurs from reputable academic institutions could be provided adequate resources and the freedom to experiment with innovative ideas in an interdisciplinary framework. Data is undoubtedly the new oil, and all Indians should recognize it at the earliest.

 

*Photo Credit: Google

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