The 31st edition of the two-day Market Research Society of India’s (MRSI) annual seminar got underway in Mumbai on Monday, October 9, 2023.
Addressing delegates in her opening speech, Paru Minocha, President, MRSI and Managing Director, Kantar, explained the critical role of the market research industry and what MRSI does.
“MRSI has strategies focused on three broad pillars – building profile, building pride and of course building the network and our reach. The effort is as much within the industry as it is external. There is also a constant focus to make sure that our initiatives overall look at the different cohorts that are important to us. The role of MRSI is equally that of depth for the industry to be ahead of the curve, driving relevance and providing a platform where we can come together. As the industry expands and becomes important, it’s very very important and critical to increase its salience across industries and groups that can be leveraged. We have formed a few initiatives,” noted Minocha.
Minocha briefed the audience about the MRSI’s key initiatives including Wednesday Webinars and ISEC (Indian Socio-Economic Classification). The organisation has also come up with a new code of conduct to protect research buyers, research providers, and most importantly the data of subjects.
“MRSI has just launched a ISECand make sure we are at the forefront of being inclusive in our approach and range. The committee worked tirelessly to draft the code which has been adopted by its members to maintain the sanctity of shared data,” she explained.
The speaker added that the industry needed to be cutting edge and always evolving. The expertise is fuelled by technology – “technology doesn’t own us but only makes it better,” she said.
“We are about to sign an MoU with the Service Export Promotion Council (SEPC) and we will work closely towards common goals. SEPC is keen on actively engaging with MRSI and taking the MR industry forward and as we are part of their 14-industry portfolio. Since we are an export oriented industry with 75 pc of our revenue generation from exports, it makes a lot of sense and it’s the natural step going forward. Various action points have been discussed on the undertaking and the benefits will be available to all the members of MRSI,” she stated.
She added, “Probably the most important thing we have done in the last few months was on a new Digital Personal Data Protection Bill draft. I am really proud to say that MRSI had a great impact on that. We proactively engaged with members and experts to give the right inputs to the government much before it was introduced. And I am thrilled to say that the Act presented earlier this year took onboard several of our submissions.”
Concluding her speech, Minocha reflected on the cohorts that are important for MRSI. The priority areas included government outreach, international salience and educational institutions.
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