The conference is a part of the activity of the Department of Statistics, Cochin University of Science and Technology (CUSAT), under the SAP-DRS Level III of the University Grants Commission, India and International Society for Business and Industrial Statistics (ISBIS). The conference will be held virtually from 28 to 30 December 2020 on an online platform. The conference is a significant event as 2020 is the Silver Jubilee year of the Department of Statistics, CUSAT. The primary objective of the conference is to provide a platform for disseminating recent developments on statistical methods for different fields of application in general, Business and Industry in particular. With an aim to expose young researchers and students to ideas in the theory and applications of Statistics, the seminar will consist of expository talks by experts in addition to invited talks and contributory sessions. The sessions will include deliberations in the area of Reliability Theory, Survival Analysis, Probability Theory, Statistical Inference, Industrial Statistics, Data Mining, Stochastic Models, Queuing and Inventory models, Time Series Analysis, Linear Models, Design of Experiments, Biostatistics, Bioinformatics, Multivariate Methods and Survey Sampling, Data Science, Machine Learning, etc. The proceedings of the conference will be published in a special issue of Applied Stochastic Models in Business and Industry (ASMBI) subject to the review policy of the journal.