Indian Statistical Institute (ISI) is a public university which is recognized as an Institute of National Importance by the 1959 act of the Indian parliament. It grew out of the Statistical Laboratory set up by Prasanta Chandra Mahalanobis in Presidency College, Kolkata. Established in 1931, this unique institution of India is one of the oldest institutions focused on statistics, and its early reputation led it to being adopted as a model for the first US institute of statistics set up at the Research Triangle, North Carolina by Gertrude Mary Cox.

Prasanta Chandra Mahalanobis OBE, FNA, FASc, FRS was an Indian scientist and statistician. He is best remembered for the Mahalanobis distance, a statistical measure, and for being one of the members of the first Planning Commission of free India. He made pioneering studies in anthropometry in India. He founded the Indian Statistical Institute, and contributed to the design of large-scale sample surveys. For his contributions, Mahalanobis has been considered the Father of statistics in India.