The Centre for Monitoring Indian Economy was set up by the eminent economist, Dr.Narottam Shah on 13 April 1976. The idea of a private research organisation funded through subscriptions by users was ahead of its times. But, the superior service rendered by Dr.Shah's small and dedicated team in those days ensured that the idea won the admiration of corporate leaders, policy makers and bankers alike.
In the early 1980s, Dr.Shah was prescient in his belief that computers would play a critical role in the future. Thanks to this vision and his quick action, CMIE was amongst the few institutions in those days to lay the foundations of building sound databases. Today, CMIE is the storehouse of the largest database on the Indian economy.
Monitoring continues to remain the mainstay of the CMIE business even today after over three decades of the foundation and in the face of revolutionary changes that have swept the information industry. The endurance of Dr.Shah's vision is best demonstrated in this resilience of the services he envisioned.
Narottam Shah's principle of independence continues to guide the business of CMIE. We are a completely independent organisation — free of any influence of financiers, dominant clients, political affiliation, ideological inclination or business or government alliances. This leaves us free to concentrate on serving our customers.
CMIE continues to remain fully owned by the immediate family members of Dr.Narottam Shah. It is managed by a highly motivated and focussed team of professionals.
13 April is celebrated as Foundation Day at CMIE.