The major objectives of the Indian Statistical Institute, as stated in its Memorandum of Association, are

1. To promote the study and dissemination of knowledge of Statistics, to develop statistical theory and methods, and their use in research and practical applications generally, with special reference to problems of planning of national development and social welfare;

2. To undertake research in various fields of natural and social sciences, with a view to the mutual development of Statistics and these sciences;
 
3. To provide for, and undertake, the collection of information, investigation, projects and operational research for purposes of planning and the improvement of efficiency of management and production.

Policy decisions for implementing the objectives of ISI are taken by the Council of ISI.