The Indian Statistical Institute founded by Professor Prasanta Chandra Mahalanobis is an Institute of National Importance declared by an act of parliament under the Ministry of Planning, Government of India.

Over the years it has grown as a multi-disciplinary organization

It functions as a Deemed University empowered to award degrees up to PhD; As a Corporation in undertaking large scale projects; as a Firm of Consultants to industries to improve Quality, Reliability, Effectiveness and Efficiency; and as a Meeting place of Scientist, Economists and Literary figures from all parts of the World