Spotty Economic Data in India Jeopardizes a Fast-Growing Market
- Most of India’s economic data is based on 2012 information
- Economists warn that using old numbers could taint policies
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Behind India’s record-setting growth lies a glaring caveat: The world’s most populous country has a serious data problem.
For years, the South Asian nation has relied on outdated surveys to quantify everything from gross domestic product to inflation. Most of India’s economic data is based on numbers collected more than a decade ago, when smartphones were rare and apps like Uber or Zomato hadn’t yet revolutionized the way Indians travel, eat and shop.