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India to launch updated GDP series next year to capture digital economy
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India will launch a 2022-23-base GDP series next year to better capture the digital economy, gig work and e-commerce activity.
The Indian government plans to introduce a new GDP series from next year, shifting the base year to 2022-23 in order to better incorporate the fast-growing digital economy, gig workforce and e-commerce. The move aims to reflect structural changes in the economy such as platform work, digital transactions and online services that were under-represented in older data. Analysts say this could lead to upward revisions in India’s growth numbers but caution about consistency with international comparisons.