Govt seeks public feedback on framework to measure economic value of knowledge, innovation-driven sectors

New Delhi [India], May 16 (ANI): The Ministry of Statistics and Programme Implementation (MoSPI) has invited feedback and suggestions from stakeholders and the general public on a proposed framework aimed at measuring the economic value of knowledge and innovation-driven sectors in India.
In a release issued on Saturday, the ministry said the exercise aims to assess the growing role of knowledge in the economy amid "rapid technological changes, complex skill demands, and organisational innovations in a competitive environment."
"To address this need, the Ministry of Statistics and Programme Implementation (MoSPI) is undertaking an exercise to develop a framework for measuring the contribution of knowledge and knowledge products to the Indian economy," the Ministry said in the release.
According to the Ministry, the initiative is a "novel initiative" as there is no comparable precedent available for such a framework, and therefore it requires the involvement of experts and stakeholders from multiple sectors.
The Ministry said a Technical Advisory Group (TAG) was constituted for this purpose under the chairmanship of Dr R Balasubramaniam, then Member of the Capacity Building Commission, following recommendations made during a meeting chaired by Principal Scientific Advisor to the Government of India, Prof Ajay Kumar Sood, in February 2025.
The TAG included members from think tanks, industry bodies, academia and representatives from Central Government ministries. A brainstorming workshop was also organised in September 2025 to develop a taxonomy of knowledge products and identify indicators and data sources to measure their contribution to Gross Domestic Product (GDP).
Based on the TAG's recommendations and consultations with experts, the ministry prepared a Base Paper titled "Framework for Measuring the Contribution of Knowledge and Knowledge Products to the Indian Economy."
The Ministry said the paper consists of four chapters covering conceptual aspects of the knowledge economy, available methodologies for measuring research and development, intellectual property rights, digital economy and academic output, traditional knowledge systems in India, and a proposed framework for valuation of knowledge contribution to the economy.
"The third chapter examines the prevalence of traditional knowledge in the Indian economy and its role across activities," the Ministry said.
MoSPI further said it has now constituted a Committee on Knowledge Systems under the chairmanship of Ratan P Watal, former Member Secretary of the Economic Advisory Council to the Prime Minister, to prepare an actionable policy paper based on the framework.
"The aforementioned Base Paper will form the basis for the Actionable Policy Paper," the Ministry added.
The Ministry has invited comments and suggestions on the paper till June 15, as part of the consultation process for finalising the framework. (ANI)