New Delhi: Finance minister Nirmala Sitharaman on Monday called on economists and scholars to adopt a more data-driven, technology-oriented approach to understanding India’s rapidly changing economy and play a greater role in shaping policy and research that reflect the nation’s realities rather than Western models.

The methodology for studying the economy must evolve, said Sitharaman, describing technology as the fifth factor of production. “Without technology, land, labour, and capital will remain where they are. Economies that adopt it across sectors progress faster, while those that limit its reach lag behind,” she said, speaking at an event at the Delhi School of Economics (DSE).

“India stands together today and stands tall and stands distinctly on its feet because of the economic

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