'Big Data' refers to very huge and complicated data sets whose processing is not possible with normal applications. Mr Rao said that India, due to its one billion plus population, having geographical, religious and cultural diversity makes it "extremely vital" and "incomparable".
"Under the leadership of Prime Minister Narendra Modi, Big Data is being used for implementation of unprecedented development schemes in the best possible way," he said in a 'Big Data Analytics' seminar organised by think-tank Bharat Niti.
'Big Data' is changing ecology of the IT sector and other industries.
"At the national level, the capacity of accumulating, processing, and utilising vast amounts of data will become a new landmark of a country's strength," Mr Goswami said.
Avik Sarkar, head of the Data Analytics Cell of the Niti Aayog, corporate vice president of Microsoft Anil Bhansali, and Indian Railways governing council member Vinit Goenka, Commissioner of Income Tax department Sanjeev Singh were among other speakers present at the seminar.