Tag: Sandeep Arora

  • 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:

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  • Indian Research and Insights industry to grow 2X by 2026 to $4.2 bn: MRSI

    Indian Research and Insights industry to grow 2X by 2026 to $4.2 bn: MRSI

    Mumbai: The Indian research and insights (R&I) industry is expected to grow at 12-14 per cent CAGR to $4.2 billion (Rs 31,300 crore) by 2025-26, compared to $2.1 bn (INR 17,200 crore) in 2020-21, according to a new report.

    The latest analysis was presented by the Market Research Society of India which launched its inaugural edition of the Indian Research & Insights (R&I) Industry Report, here on Thursday. As per the report, India is fast becoming the global analytics hub, with international markets accounting for three-fourth of its revenues. The Indian R&I sector currently employs more than 125,000 people.

    During 2020-21, marketing analytics services accounted for 52 per cent of the total Indian R&I industry revenues, while traditional market research and syndicated/ publishing services stood at 32 per cent and 16 per cent, respectively. By 2025-26, analytics services would account for 59 per cent, while custom market research and syndicated/ publishing services would account for 27 per cent and 14 per cent, respectively, the report forecasts.

    At present, the FMCG and retail sectors are the largest consumers for research and insights with a share of 27 per cent, followed by information, communications & telecom (16 per cent) and BFSI (15 per cent).

    “The Indian research & insights industry has staged a robust recovery and is emerging as the most sought-after destination for analytics, globally. The availability of talent coupled with proven expertise in data handling, technology, infrastructure, and cost competitiveness will lead to an orbital shift in the industry by 2030,” said MRSI president Sandeep Arora. “We not only expect the R&I industry to grow 2X in the next five years but can safely estimate the industry size to reach $10 bn by 2030, especially with the strategic direction that most providers are adopting to move towards MR 3.0.”

    MRSI partnered with Value Notes as the research partner for ensuring methodological objectivity of the 150+ report. The study curates the findings from exhaustive desk research, secondary data of 198 companies, and more than 140 interviews conducted with industry professionals.