Industry can come up with insightful researches on Commerce & Industry: Piyush Goyal
The Minister of Commerce & Industry was speaking at the unveiling of the latest figures for the Indian Consumer Research & Insights Industry
The entire market research industry in India has matured significantly in the last few years. There’s a lot more use of technology, more analytical skills and AI being used. He opined that the industry can come up with insightful researches on areas concerning Commerce & Industry, for example which areas one should be investing in, where the export markets are or where a plant should be located ideally, Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, said.
He was speaking at the unveiling of the latest figures for the Indian Consumer Research & Insights Industry at Market Research Society of India’s (MRSI) 30th Annual Market Research Seminar.
“Given the complexities of a large and diverse nation like India, we must adopt technology intelligently, smartly, and make sure that we don’t lose the essence of our work in the outcomes. The market research should have real resonance on the ground,” Goyal said.
He emphasised that India has a huge potential to digitise as much as possible, especially the surveys. If language skills are improved along with the tools of analysis the companies will be able to compete better for the developed markets.
Manish Makhijani, Global Insights Director, Hindustan Unilever Ltd. and current President at MRSI said, “India is on a steady growth track when it comes to the research and insights industry. It is encouraging to witness India gain a position of pride in the global sector. We are positive that the sector will continue to drive overall growth as we step towards achieving the vision of becoming the $30 trillion economy over the next 30 years.”
