India Macro Advisors – Best Online sources for Indian Economic Data
India Macro Advisors (IMA) is the best website for those interested in finding information about the Indian economy. In IMA pages, one can find all the important historical macroeconomic datasets which are compiled from different government official sources. The exhaustive list of indicators covered comes with interactive charts and a concise and easy to understand commentary about a particular dataset.
For instance, IMA provides data on Trade balance of India, Balance of payments, Gross domestic product, Industrial production, CPI inflation, Money supply and many more. In each of these indicator pages, there are interactive charts where one can immediately see how the indicator has been performing. Dataset of few indicator pages such as GDP has been extended backward (compiling old series with new series). The contribution points for different components of GDP are also covered. Along with this, users will be able to find a brief overview of the indicators and how it is formulated by the government. Every month or quarter, soon after the official sources update the dataset, at IMA the same dataset is used and an easy to understand the brief description of what the data means is sent to the users as an update. IMA also provides seasonally adjusted values for various indicators such as eight core industries, GDP, trade balance among others.
At IMA thematic reports are also written based on topics that they feel need to be covered extensively. For instance, the topics covered so far under proprietary reports include Make in India- an uphill task, low productivity hurting India’s growth, don’t overestimate India’s demographic dividend, among others. In these reports, an extensive economic understanding is written of how it impacts the Indian economy using interactive charts and a good summary of the entire report is also provided.
Currently, all their content and historical datasets are provided for free. There is an option to download datasets in the form of CSV, pdf, and jpeg. In these interactive charts, one can also add annotations to show how an indicator has been performing. A unique feature provided to the paid users is the option to use My charts. Under My charts, one can immediately transfer the historical data and create ppt slides.
Since the official Indian macroeconomic data is spread over many government websites in an unstructured format. The Indian economy has always faced a problem of inadequacy of structured and “easy to use” accessible data. IMA believes that an economy should have an open data policy where the data should be easily available. Therefore, the access to data should not just be available to corporates, researchers or policymakers, but to everyone.
Providing a well-structured interactive online database portal for the Indian economy along with a concise and insightful analysis of the data is the sole purpose. This would facilitate research across various sectors of the Indian economy. Also, such open and easy access to data would lead to a better understanding of the Indian economy among the general public, businesses, researchers and help them make better and informed decisions.
India Macro Advisors (IMA) is a privately owned affiliate of the “Japan Macro Advisors” (JMA) group. Currently, the company is based in Bangalore and is registered as Inter Macro Associates Pvt Ltd. India Macro Advisors (IMA) Managing Director and Chief Economist is based in Japan and covers most of Japan’s macroeconomic analysis. IMA has a team of five economists and three developers working together for the two websites.