How correct are present world Indices in serving to assess digitalisation?

On this episode of the State of the Economic system podcast, businessline’s Anjana PV discusses numerous strategies of measuring India’s digital economic system. The podcast is joined by Deepak Mishra, Director and CE of the Indian Council for Analysis on Worldwide Financial Relations (ICRIER), and Mansi Kedia, Senior Fellow at ICRIER. The dialogue explores the necessity for a brand new framework to evaluate digitalisation and the gaps in present world indices. 

Deepak and Mansi introduce the CHIPS framework, developed by ICRIER, as a complete method to measuring digitalisation in India. CHIPS stands for Join, Harness, Innovate, Shield, and Sustainability, representing the important thing pillars of digitalisation. This framework affords a holistic view of digital transformation, contemplating connectivity, affect, innovation, safety, and sustainability elements. 

The CHIPS framework addresses the constraints of conventional indices by incorporating final result variables and decreasing the chance of double-counting, notably benefiting creating nations like India. It emphasises the significance of understanding each linear and non-linear paths of digital growth and highlights dimensions corresponding to cybersecurity, privateness safety, and environmental sustainability. 

The CHIPS framework gives policymakers, researchers, and practitioners with a nuanced understanding of India’s digital economic system, enabling knowledgeable decision-making and efficient coverage interventions. The dialog highlights the significance of understanding the various pathways of digitalisation and the necessity for nuanced frameworks to seize its complexities. The episode affords precious insights into the evolving panorama of digitalisation in India and its implications for financial progress and growth. Tune in to be taught extra concerning the CHIPS framework and its function in shaping coverage interventions and driving inclusive digital transformation.

(Host, producer &edits: Anjana PV)