February 25^th, 2026; Mumbai, India: The Market Research Society of India (MRSI) today announces that B.V. Pradeep will be presented with Lifetime Achievement honours at the upcoming 7^th Golden Key Awards. With an illustrious career spanning over four decades, B.V. Pradeep has been a defining force in shaping the evolution of market research into a strategic business function globally and in India. Continuing to celebrate excellence, innovation, and leadership across the research and insights sector, the 7^th edition of MRSI’s coveted Golden Key Awards will take place on March 6, 2026, in Mumbai.

An Indian Institute of Management, Bangalore alumnus, B.V. Pradeep spent nearly three decades in key leadership roles with Unilever in India and abroad, where he pioneered several path-breaking research frameworks and insight-led methodologies that became global best practices. Having championed consumer centricity in his early days, he is credited with laying the foundation that transformed the MR function formally into the Consumer & Market Insights (CMI) role and function. Among his other significant contributions are conceptualising, designing, piloting and landing several consumer insight systems and workshop processes, at scale, to deliver high-quality, impactful, actionable insights. From revolutionising sensory research in tea and brand equity measurement in the 1990s to developing behaviour change models, consumer-centricity programs, and strategic insight systems, B.V. Pradeep’s work fundamentally redefined how organisations engage with consumers and translate insights into action.

In addition to his contribution in India, B.V. Pradeep has been a prominent figure in the global research and insights ecosystem. His influence extends through engagements with ESOMAR, where he served on the Governing Council as the Vice President and Treasurer. He also played a pivotal role in strengthening India’s standing in the global Market Research industry. He served as the Chairperson of the Joint Technical Committee for Television Audience Measurement, a Governing Council Member of Media Research Users Council (MRUC) and was also MRSI’s President from 1999 to 2005.  He currently leads his consultancy Catalyst-4ur-Growth, where he continues to provide strategy and support to clients and research agencies in areas of marketing, insights and analytics.

Speaking on the same, Nitin Kamat, Chief Growth & Partnerships Officer, TAM Media Research and President at Market Research Society of India, said, “B.V. Pradeep’s contribution goes far beyond methodologies and frameworks; he shaped mindsets and expanded the horizon for the sector’s growth beyond FMCG. His work placed consumers at the heart of organisations and elevated insights as a strategic growth lever. He has also played a critical role in shaping MRSI’s position and we are truly honoured to recognise his unparalleled legacy with the Lifetime Achievement Award at the Golden Key Awards.” 

Paru Minocha, Managing Director, Qualitative Head, APAC at Kantar, and Committee Chair for the Lifetime Achievement Award at the 7^th Golden Key Awards, added, “B.V. Pradeep’s contribution to the research and insights industry cannot be measured. He has pioneered frameworks that unlocked growth for both clients and agencies and has been pivotal in creating a space for India in the research industry globally. His work consistently strengthened the strategic role of consumer insights. We deeply appreciate his contributions and thank him for his lasting impact that shaped the future of the research and insights in India.”

The esteemed jury panel for the Lifetime Achievement Award was chaired by C K Sharma, Former Strategic Consultant and Principal, Gallup. He was joined on the jury by Chandan Mukherji, Ex-Director & Senior Vice President, Strategy, Marketing & Communication, Nestlé India; Manish Makhijani, CEO, Hygiene Care – RSPL.; Dr. Meena Kaushik, Chairperson, Quantum Consumer Solutions Pvt. Ltd and Prasun Basu – Chairman, Inteliphyle Ltd.

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~ Expected to reach USD 3.4 Bn in FY2025 ~ (FY2025 Projected Estimate: 11% – 14%) 

December 19, 2024; Mumbai, India: India’s apex industry-led market research body, Market Research Society of India (MRSI) announces the release of its annual industry sizing report. Titled ‘The Indian Research & Insights Industry 2024 Update’, the report highlights the industry’s remarkable growth trajectory, with the sector reaching USD 3.2 Bn in FY2024, a robust 12.6% increase from USD 2.9 Bn in FY2023. Projected to grow to USD 3.4 Bn in FY2025, the report highlights the sector’s ability to leverage India’s dynamic economy and its role as a pivotal player in delivering insights-driven transformation.

Analytics, the systematic computational analysis of data, used for discovery, interpretation, and communication of meaningful patterns for effective decision-making, forms the bedrock of the industry. Focussed on customer and marketing analytics, it contributes 58% of the total market, growing at an impressive 17%, driven by the adoption of big data, AI, and machine learning in industries such as retail, finance, and media. Similarly, Custom Market Research, the tailored research conducted and funded by clients to address their specific business issues, has grown by 9% and now accounts for 29% of the industry. This reflects an increasing preference for actionable, sector-specific insights to tackle challenges like rural FMCG slowdowns and short-term volatility. Sectors like e-commerce, automotive, and BFSI are capitalizing on the growing demand for personalized insights, while manufacturing sector presents untapped opportunities for research firms to expand their reach.

Driven by a focus on ESG factors, sustainability, and the circular economy, international clients remain the top revenue source for the Research and Insights industry, accounting for an impressive 80% share. On the supply side, analytics remains a major driver of international demand, with Indian firms leading in innovation and scalability. Additionally, India’s lower costs and skilled talent pool attract global players to set up captive centers, supporting continued growth in the sector.

Speaking on the industry’s growth, Nitin Kamat, President at Market Research Society of India said, “The Indian research and insights industry is experiencing robust growth, driven by the integration of big data and AI with traditional analytics, particularly as digitalization accelerates in sectors like retail, e-commerce, finance, and media. The growing trend of organizations investing in internal capabilities is reshaping the ecosystem, with smaller, faster, and more localized research increasingly relying on client data, social media, and behavioral panels. This shift toward flexible research solutions and strategic B2B insights highlights the industry’s adaptability to evolving client needs, reaffirming India’s position as a pivotal market for delivering high-quality insights.” 

Mitali Chowhan, Director General at Market Research Society of India further added, “The growth of India’s research and insights industry is a testament to its resilience and adaptability. As businesses increasingly rely on data-driven decision-making, India is uniquely positioned to deliver actionable insights with precision.”

 The research and insights sector employed approximately 145,000 full-time professionals in FY2024, with a growing demand for skills in AI, machine learning, and data science. The analytics segment remains a key employer of early-career talent. As the industry evolves, FY2025 is set to be transformative, driven by advancements in AI and the increasing importance of hyper-personalized insights. The sector’s projected growth of 11% to 14% will be supported by expanding analytics capabilities, deeper penetration into emerging markets, and sustained demand for strategic intelligence.

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