Tag: Paru Minocha

  • Indian research and insights industry reaches $2.9Bn in FY2023: MRSI

    Indian research and insights industry reaches $2.9Bn in FY2023: MRSI

    Mumbai: India’s apex industry-led market research body, Market Research Society of India (MRSI) has announced the launch of its industry sizing report titled ‘The Indian Research & Insights Industry 2023 Update’. As per the report, India’s market research and insights industry grew by 17.6 per cent in FY2023 reaching USD 2.9 Bn from $2.7 Bn in FY2022. Currently at the third position globally, India’s market research and insights industry is further expected to reach USD 3.4 Bn in 2024.

    With a strong growth trajectory, supported with global confidence, India is considered a talent hub with strong analytics expertise. The growth witnessed aligns with the global research and insights industry, which posted a substantial 12 per cent increase to reach $130 Bn, over $118 Bn in the previous year. Data analytics is the fastest-growing sector of the global insights industry in absolute terms.

    With large project commissions and strategic work being revived, India’s market research industry is well aligned with the Government of India’s Vision-2030 strategy. Custom research and analytics have also fuelled the domestic market to grow by 12%. Analytics business from local clients continues to grow with an increasing focus on combining survey data, client data, and social data to derive insights.

    Speaking on the industry’s growth, Market Research Society of India president Paru Minocha said, “The Indian research and insights industry witnessed another year of significant growth, achieving a substantial size of USD 2.9 Billion. This growth is a testament to India being the focus growth market for companies and the market research industry’s ability to navigate challenges and capitalize on emerging opportunities to enable that growth. In addition, there is global confidence in India as a talent hub and as a market that is pivotal in offering valuable insights and research solutions.”

    Market Research Society of India director general Mitali Chowhan further added, “The growth our sector is undergoing is very encouraging. This has helped maintain us our Global ranking, and infact has moved us up to the third position in the global Market Research & Insights industry. India’s significant capabilities, along with our industry’s ability to adapt effectively to challenges and thrive on both global and domestic fronts is something we can be proud of.”

    The BFSI, FMCG, technology, and healthcare sectors continue to contribute significantly to sectors growth and revenue. Emerging sectors like telecom, electric vehicles, and gaming have seen increased demand for analytics and custom research. While online data collection is gaining traction, traditional methods such as face-to-face interviews remain relevant for their cost competitiveness and ability to provide wider coverage of the Indian consumer.

    The executive summary of The Indian Research & Insights Industry Report 2023 is available to download on https://insight.mrsi.co.in/indian-industry-report/

  • MRSI elects new managing committee with Manish Makhijani as president

    MRSI elects new managing committee with Manish Makhijani as president

    Mumbai: India’s foremost industry-led market research body Market Research Society of India (MRSI) on Friday announced the formation of the managing committee for the tenure of 2022-2024. Hindustan Unilever global insights director Manish Makhijani was elected as the new president and took over from Datamatics Global Services executive vice president and global head – research & analytics solutions Sandeep Arora. 

    Manish worked as the Vice President of MRSI for the last three years and has been instrumental in creating and delivering several initiatives like the Golden Key Awards, Hackathon event at the Annual Seminar, etc. Manish is also a passionate advocate of nurturing talent and has been at the forefront of inspiring new talent to come to the industry and contribute toward business growth.

    Additionally, Paru Minocha and Saurin Shah were elected as Vice-Presidents, Prashant Kolleri as the Secretary, and Nitin Kamat as the Treasurer for MRSI. The election of the new managing committee members was held at MRSI’s 34th Annual General Meeting on 7 July 2022 in Mumbai.  

    MRSI’s managing committee is represented by companies across research agencies, research users and service providers in the market research industry. The newly-elected managing committee continues to stay focussed on maintaining and ensuring the highest quality standards thus establishing India’s dominant position in the global market research industry.  The focus of MRSI for the next couple of years would be to build on the momentum it has created in the last few years and focus on building a stronger network where all the members can benefit from each other, building a talent pipeline in the industry and instilling a sense of pride in the work being done.

    Congratulating the newly elected president, Datamatics Global Services executive vice president and global head – research & analytics solutions and Market Research Society of India’s outgoing president Sandeep Arora said, “I thank the MRSI members for supporting the current managing committee with their trust, especially when we had to change our course and plans drastically during the unprecedented Covid period. Thankfully, most of the key initiatives (locally and globally) we launched during that time have given a new direction and scale to the vision of the association going forward. I wish the incoming managing committee under the leadership of Manish Makhijani all the best to carry this momentum forward.”

    The 2019-2021 managing committee took on some of the MRSI’s most significant initiatives till date. The committee was responsible for the successful release of India’s first-ever comprehensive market sizing report titled ‘The Indian Research & Insights Industry 2021’. The report stated that the approximately $2.3 billion Indian research and insights industry is expected to grow at a CAGR of 12 per cent to 14 per cent to reach $4.2 billion by 2025-26. Rising to the numerous challenges on account of the Covid-19 pandemic, the former managing committee under the leadership of Sandeep Arora embraced online and hybrid formats to drive engagement. The committee also supported fieldwork investigators who are the foot soldiers of the industry through the MRSI Freelance Investigator Fund in 2020.

    On being elected as MRSI’s president for the next two years, Hindustan Unilever global insights director Manish Makhijani said, “I am incredibly privileged to carry forward the legacy of so many stalwarts in the industry. Our industry has come a long way and sits at the intersection of changing consumer behaviour, technology, and marketing solutions. It is now up to us to really bring out the contribution of insights into the growth of the business in this complex and evolving world.”

    Here’s the list of MRSI’s managing committee member for the term of 2022-2024:

    [[{“fid”:”1084159″,”view_mode”:”default”,”fields”:{“format”:”default”,”alignment”:””,”field_file_image_alt_text[und][0][value]”:”1″,”field_file_image_title_text[und][0][value]”:”1″},”type”:”media”,”field_deltas”:{“1”:{“format”:”default”,”alignment”:””,”field_file_image_alt_text[und][0][value]”:”1″,”field_file_image_title_text[und][0][value]”:”1″}},”attributes”:{“alt”:”1″,”title”:”1″,”class”:”media-element file-default”,”data-delta”:”1″}}]]

  • Kantar IMRB appoints Paru Minocha as head of qualitative business

    Kantar IMRB appoints Paru Minocha as head of qualitative business

    MUMBAI: Kantar IMRB, a leading market research company, announced the appointment of Paru Minocha as the head of qualitative business Unit. She has taken over from Rohini Abraham. Paru joined Kantar IMRB in Sept 2015 and is based in Mumbai. She will play a key role in leading the company’s go to market services & drive the growth of the Qualitative business pan India.

    Armed with over 20 years of experience in market research, Paru started her career as a qualitative researcher in MARG and went on to set up & head Synovate in Delhi. Having done this successfully, she moved to Mumbai to head Synovate pan India and subsequently, as head of innovation in IPSOS.

    Paru can boast of a well-rounded experience in Market Research, a mix of both Qualitative & Quantitative research. She has expertise in several sectors including Social, FMCG, Tobacco and Automotive.

    Kantar Insights CEO – South Asia Preeti Reddy said, ‘’Paru’s experience in both Qualitative and Quantitative will prove to be an asset. She brings in a deep understanding of research, complex business environments and client needs. Paru’s cross sector experience will certainly aid IMRB Qualitative to rise to greater heights under her stewardship”.

    Paru Minocha said, “I’m thrilled to be leading this role when the core Qualitative research is being redefined. I look forward to leveraging technology, social media data and marrying them with the primary survey data. This new approach is also reflected in how as a company we are organized and the investments that we are making in technology and digital. As Kantar IMRB, we have unique access to social data, proprietary syndicated data as well as strong partnerships with third party data owners. I strongly believe that qualitative research would form an integral part in decoding and making sense of the big data

    Paru has done B Com Honors from SRCC and holds MBA degree in Marketing and Finance from Xavier’s Institute of Management.

  • Kantar IMRB appoints Paru Minocha as head of qualitative business

    Kantar IMRB appoints Paru Minocha as head of qualitative business

    MUMBAI: Kantar IMRB, a leading market research company, announced the appointment of Paru Minocha as the head of qualitative business Unit. She has taken over from Rohini Abraham. Paru joined Kantar IMRB in Sept 2015 and is based in Mumbai. She will play a key role in leading the company’s go to market services & drive the growth of the Qualitative business pan India.

    Armed with over 20 years of experience in market research, Paru started her career as a qualitative researcher in MARG and went on to set up & head Synovate in Delhi. Having done this successfully, she moved to Mumbai to head Synovate pan India and subsequently, as head of innovation in IPSOS.

    Paru can boast of a well-rounded experience in Market Research, a mix of both Qualitative & Quantitative research. She has expertise in several sectors including Social, FMCG, Tobacco and Automotive.

    Kantar Insights CEO – South Asia Preeti Reddy said, ‘’Paru’s experience in both Qualitative and Quantitative will prove to be an asset. She brings in a deep understanding of research, complex business environments and client needs. Paru’s cross sector experience will certainly aid IMRB Qualitative to rise to greater heights under her stewardship”.

    Paru Minocha said, “I’m thrilled to be leading this role when the core Qualitative research is being redefined. I look forward to leveraging technology, social media data and marrying them with the primary survey data. This new approach is also reflected in how as a company we are organized and the investments that we are making in technology and digital. As Kantar IMRB, we have unique access to social data, proprietary syndicated data as well as strong partnerships with third party data owners. I strongly believe that qualitative research would form an integral part in decoding and making sense of the big data

    Paru has done B Com Honors from SRCC and holds MBA degree in Marketing and Finance from Xavier’s Institute of Management.