Last updated on May 8th 2023
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As the Managing Director & CEO, and co-founder of People Research on India’s Consumer Economy (PRICE, branded as ICE 360°), I have spent my career deeply engaged in pioneering research that informs and shapes India’s socio-economic landscape. With over 30 years of experience, including 18 years at the National Council of Applied Economic Research (NCAER), my work has significantly contributed to the understanding and development of India's consumer economy, guiding both public policy and business strategies.
During my 18-year tenure at NCAER, I was privileged to be at the heart of one of India’s premier economic research institutions, where I led and contributed to numerous large-scale studies focused on household surveys, income, expenditure, savings, and broader socio-economic trends. My work at NCAER laid the foundation for my deep understanding of India’s complex economic landscape and provided me with the tools and insights to execute research that is both scientifically rigorous and highly relevant to policymakers and businesses.
Building on this rich experience, I co-founded PRICE, an independent, not-for-profit think tank dedicated to generating actionable insights into India’s Household Economy and Citizens’ Environment. At PRICE, we focus on building and disseminating interconnected, consistent, and up-to-date knowledge that empowers evidence-based decision-making across policy formulation, regulatory frameworks, and business strategies. The ICE 360° Surveys, which I have had the privilege to lead, offer unparalleled insights into consumer behavior, expenditure patterns, income sources, and financial inclusion across Indian households. These surveys have become essential tools for understanding the economic pulse of the nation, providing critical data that informs both policymakers and corporate leaders.
My expertise as a researcher, author, and applied statistician has equipped me to execute scientific, data-driven research with a strong commitment to data integrity. I adhere to the highest standards through the use of internationally accepted “Quality Assurance Frameworks for Data Research,” ensuring that the insights generated are not only robust but also transformative for stakeholders across various sectors.
Beyond PRICE, I have contributed to shaping national policies through my involvement in numerous high-powered committees of the Government of India. I have also served as a technical advisor to several prestigious national and international institutions, providing strategic guidance informed by a deep understanding of India’s consumer economy.
Throughout my career, I have authored over 50 policy research reports for both public and private entities. Some of my most impactful publications include How India Earns, Spends and Saves, India Science Report, The Cultural Authority of Science: Comparing across Europe, Asia, Africa and the Americas, Caste in Different Mould, India Youth: Demographics and Readership, The Culture of Science: How the Public Relates Science Across the Globe, The Great Indian Middle Class, and The Next Urban Frontier: Twenty Cities to Watch. My most recent work, The Rise of India’s Middle Class, explores the economic lives of this burgeoning segment, offering essential insights for marketers, corporate strategists, and policymakers.
At PRICE, our mission is to harness the power of data to drive meaningful change. By providing accurate, timely, and comprehensive data, we aim to bridge the gap between policy, business, and the everyday realities of Indian citizens. Our work not only supports the development of inclusive policies but also helps businesses make informed decisions that resonate with the needs and aspirations of India’s diverse consumer base.
My ongoing commitment is to advance the understanding of India’s consumer economy, ensuring that our insights lead to tangible improvements in the lives of people and contribute to the sustainable growth of the nation.
Working Paper | MPUAT Working Paper
Emerging Opportunities and Challenges for Dairy and Food Startups in India : A Policy PerspectiveBook | PRICE
Gearing Up For a Billion-Plus Middle Class by 2047Research Paper I Economic and Political Weekly
Tracing the Geographies of Inequality in India Beneath the Urban–Rural DividePublished Report | NPCI-PRICE
Digital Payments Adoption in India, 2020Published Report | Catalysts (IFMR Lead) & PRICE
Mapping the Merchant's Mind: An analysis of digital payment behaviors by Store Merchants JaipurPublished Report | Catalysts (IFMR Lead) & PRICE
Decoding Home-Based Business Preferences: An analysis of digital payment behaviors of Home-Based Business owners in JaipurResearch Paper I Indian Journal of Human Development
Return to Skills in India: The Role of Digital Access and UsageBook | Routledge, U.K.
The Cultural Authority of Science Comparing across Europe, Asia, Africa and the AmericasPublished Report | EVERSTONE
India's Food Consumption Over The Next DecadePublished Report | PRICE
Indian Citizens' Basic Needs: A Progress ReportPublished Report | PRICE
Accelerating Financial Inclusion in India: Survey Among Jan Dhan Users and Micro MerchantsPublished Report | The Fletcher School, Tuff University and NIBM
Cost of Cash in IndiaWorking Paper | IBGC Working Paper 14-03
Reasons and Attitudes to Using Cash in IndiaResearch Paper | Risk Analysis
When Precaution Creates Misunderstandings: The Unintended Effects of Precautionary Information on Perceived Risks, the EMF CaseResearch Paper | The Journal of Higher Education
Probing the Peoples Thought ComplexPublished Report | NCAER
Assessing the Effectiveness of Small Borrowing in IndiaBook | Routledge, U.K.
The Culture of Science: How the Public Related to Science Across the GlobeResearch Paper | MARGIN: The Journal of Applied Economic Research
The Determinants of Demand for Life Insurance in an Emerging Economy--IndiaWorking Paper | NCAER Working Paper
Dynamics of Youth Population- Impact of Education ExpenditureResearch Paper | Indian Journal of Human Development
The Official Poor in India, Summed UpBook | SAGE, New Delhi
How India Earns, Spends and Saves: Unmasking the Real IndiaBook | Business Standard and NCAER
Caste in a Different Mould: Understanding the DiscriminationPublished Report | The Max New York Life Insurance Limited
How India Earns, Spends and Saves Results from The Max New York Life-NCAER India Financial Protection SurveyPublished Report | ITAS, Karlsruhe Institute of Technology, Karlsruhe, Germany
International study of the effects of information about precautionary measures on risk perceptions, trust and the evaluation of scientific knowledge regarding mobile telephonyPublished Report | NCAER
Handloom Census of India 2009-10Published Report | National Book Trust
Indian Youth: Demographics and ReadershipPublished Report | NCAER and Future Research Capital
The Next Urban Frontier: Twenty Cities to WatchResearch Paper | MARGIN: The Journal of Applied Economic Research
Asymmetry in the Science and Technology Base and Its Bearing on Regional DevelopmentWorking Paper | NCAER Working Paper
Role of Science & Technology, Higher Education and Research in Regional Socio-Economic DevelopmentPublished Report | Indian National Science Academy
India Science ReportPublished Report | NCAER and Business Standard
The Great Indian Middle Class: Results from the NCAER Market Information Survey of HouseholdsOPINION I Economic Times
Our Mind Over MatterOPINION I Mint
Education is the cornerstone of a Viksit Bharat: Invest heavily in itOPINION I Times of India
Don’t Rob Peter Just Educate ThemOPINION I Mint
Freebies don’t offer a long-term solution but let us not ban themOPINION I Financial Express
Beyond Diwali Dhamaka – India’s Consumption storyOPINION I Economic Times
Skim Off Creamy layer With CareOPINION I The Open Magazine
The Smart BuyerOPINION I Mint
Pandemic poverty to recovery: Lessons from a rollercoaster rideOPINION I Economic Times
Rich Farmers Gotta Pay TaxOPINION I Open30
THE FALLING CITYOPINION I MINT
E-commerce is reshaping jobs and consumer welfare in IndiaOPINION I Economic Times
Click n Mortar, an Offline StoryOPINION I Economic Times
The Changing Landscape of India's Youth Employment: A Policy PerspectiveOPINION I Economic Times
Agriculture in India: Navigating Challenges and Opportunities in the 21st CenturyOPINION I The Economic Times
Gotta Fix Those Inequality GapsOPINION I Dainik Bhaskar
The saving-earning-expenditure pattern of every city is differentOPINION I The Economic Times
India’s Young Harbour Big PlansOPINION I The Economic Times
Life in The Golden EraOPINION I Times of India
Bye, bye cheap; buy, buy priceyOPINION I The Economic Times
Why location matters in gauging the precise trends of social and economic inequalityOPINION I The Economic Times
Take Everyone Along in 24OPINION I The Economic Times
Destabilise the PyramidOPINION I The Secretariat
Dateline 2031: India's Middle Class Will Make It Much RicherCOVER STORY | Wealth Issue 2023
A Class ActOPINION I The Economic Times
The road to development of India as a whole is no longer caste-codedOPINION I The Economic Times
Improving India's women labour force participation rateOPINION I The Economic Times
India's 'developed' status by 2047 depend on empowering its blue-collar workforceOPINION I The Economic Times
India's middle class is expanding, thanks to rapid urbanisation. This will reshape the economy.OPINION I The Economic Times
How urban migration has changed — and is changing — ideas of rural IndiaOPINION I The Times of India
The Super-Rich want exclusivity, will not settle for second bestOPINION | The Times of India
India In All Its SpenderOPINION | The Times of India
Middle Goes To TopOPINION | The Times of India
Greatly Expanding Indian Middle ClassOPINION | The Employment News
Understanding Linkages Between Skills, Education and EarningsOPINION I MINT
Only half of Indias household consumption will come through post covidOPINION I The Indian Express
Loss of income ground up assessment of recovery support to householdsOPINION I The Financial Express
Why internet access is an enabler for high returns on skillsOPINION I The Financial Express
Return on skill: The widening earnings gapOPINION I The Financial Express
Explained: Gap between Skill India goals and current statusOPINION I The MINT
What makes merchants adopt digital payments?OPINION I The Financial Express
Digital divide in IndiaOPINION I Mint
Why the gold monetisation initiative is failing to enthuse IndiansOPINION I The Financial Express
Narendra Modi govt's intent to curb black money laudable, but demonetisation has hit RBI imageOPINION I The Financial Express
7th Pay Commission report: Who will be the loser?OPINION I The Financial Express
Here's what stops agriculture sector from being revivedOPINION I The Financial Express
Looking at both sides of coinOPINION I The Financial Express
Bridging the connectivity gapOPINION I The Financial Express
The wheels of household well-beingOPINION I The Financial Express
Measuring household well-beingOPINION I The Financial Express
North India's potential stymied by laggard statesOPINION I The Financial Express
Financial inclusion eludes female-headed householdsOPINION I The Financial Express
Riding up the growth pathOPINION I The Financial Express
Putting rural economy back on trackOPINION I The Financial Express
Towards more equitable economic growth of districtsOPINION I The Financial Express
Impact of GDP growth on income inequalityOPINION I The Financial Express
Impact of GDP growth on income inequalityOPINION I The Financial Express
The long journey towards inclusive growthOPINION I The Financial Express
The long journey towards inclusive growthOPINION I The Financial Express
Strengthen household saving data for effective policy-makingOPINION I The Financial Express
Strengthen household saving data for effective policy-makingOPINION I The Financial Express
Unleashing our growth potentialOPINION I The Financial Express
Growth in household spending fuels education marketOPINION I The Financial Express
Declining per capita protein intake spells troubleOPINION I The Financial Express
Higher Disposable Income Leads to a Protein-rich DietOPINION I The Financial Express
The changing dynamics of India’s consumer economyOPINION I The Financial Express
Financial inclusion: Focus on Middle IndiaOPINION I The Financial Express
Working towards better life satisfactionOPINION I The Financial Express
Financial inclusion only when service providers raise awarenessOPINION I The Financial Express
Linking work-related mobility with well-beingOPINION I The Financial Express
Transitioning to a cashless economy not a walkoverOPINION I The Financial Express
Rural development: Shrinking Bharat needs a new approachOPINION I The Financial Express
Revitalising rural economyOPINION I The Financial Express
Rural India’s dark underbellyOPINION I The Financial Express
Well-being: The path towards inclusive growthOPINION I Economic Times
The real acche din: Why development mantra should be about improving the lives of those in rural IndiaINTERNATIONAL COLLABORATIVE RESEARCH AND CONSULTING ASSIGNMENTS
Project |
“Mapping of Cultural Authority of Science Across Europe and India (MACAS 2012-16)”, the First Europe India Social Science Research Network collaboration that India has been considered under the terms of the 'Indian-European RNP' agreement. |
Sponsors |
• Indian Council of Social Science Research (ICSSR, India) |
Objective |
To rationalise and economise Europe’s efforts of engaging with India to produce high-quality, high-impact social science research addressing major global challenges including economic growth and development, energy and climate change, and health and well-being. |
International collaborators |
Prof. Martin W Bauer, Head of Methodology Institute, LSE, UK. Dr. Rajesh Shukla, Professor, Institute for Human Development, New Delhi Prof. Petra Pansegrau, Lecturer in Linguistics, Bielefeld, Germany Dr. K.N. Singh, IASRI, New Delhi |
Research components |
This Indo-European network has constructed a system of science culture indicators based on news analysis and on attitude measures. Trends in science news (1990-2010; intensity, positioning, issues) are linked to trends in public attitudes to science (interest, attitude, knowledge, engagement: Eurobarometer & India Science Surveys, 1989-2010). The network mobilised and developed joint expertise in discourse analysis, computer-assisted text analysis, large scale survey research, and sophisticated statistical techniques to track the cultural authority of science. |
Project |
“Engagement and Attitudes to Science: India and Europe” |
Objective |
Construction of Global Indicators of Science and Technology |
International collaborator |
Martin W Bauer, Head of Methodology Institute, Director MSc Social & Public Communication, London School of Economics |
Data used |
India Science Data (2004-05) GESIS longitudinal datasets : 1977 to 2005 (EB 63.1, CCEB 2002.3, EB 55.2, EB 38.1, EB 31, EB 28, EB 10A and EB 7) |
My role |
• Engaged in compiling, integrating and analyzing two data sources to develop two culture science indicators; |
Project |
“Sumatra Investment and Trade Survey (SITS) of Indonesia-Malaysia-Thailand Growth Triangle: Enhancement of Sub-regional Cooperation in BIMPEAGA and IMT-GT” |
Collaborator |
Dr. Pradeep Srivastava, Economist, ADB |
Objective |
To develop an understanding of the factors affecting trade and investment in the IMT-GT region, specifically in terms of trade between Sumatran firms (the Indonesian component of IMT-GT) and the IMT-GT states and provinces of Malaysia and Thailand. |
My role |
As a Consultant to the study, I performed following tasks. |
Project |
“Global Risk Perception Study” |
Collaborator |
Dr. Peter Wiedemann, Forschungszentrum Jülich, Germany |
Participating countries (12) |
Australia, Bangladesh, Brazil, Germany, India, Japan, South Africa, Netherlands, South Africa, Taiwan, United Kingdom and United States |
Objective |
To provide scientific data related to understanding and trust to mobile communication technology by general public in regards to precautionary measures |
My role |
Working as India Expert on this study, have provided following support to collaborator: |
Project |
Consumer Demand Analysis |
International collaborator |
Ms. Diana Farrell, Director, McKinsey Global Institute, San Francisco Mr. Ajit Mohan, McKinsey, India |
Objective |
To provide a robust understanding of consumer demand dynamics in India.. |
My role |
Worked as one of the Technical Advisors |
Project |
Consumer Demand Analysis |
Project |
“Comparative Insights on Consumption and Investment Behaviour in China and India” |
Objective |
Aims to nurture and support multi-disciplinary research on the changing consumption and investment behaviour of China and India |
Collaborator |
Prof. K. Sudhir, Director, Centre for Consumer Insight, Yale School of Management. |
My role |
• Wrote an paper for international conference focusing on insight of Indian consumers based on NCAER consumer data
|
Collaborator |
Mr. Antonio Massieu, Chief, Department of Statistics (TSA), UNWTO |
My role |
• Represented India as Technical Expert in the 7th meeting of the “UNWTO Committee on Statistics and Macroeconomic Analysis of Tourism” held in Madrid, Spain, at UNWTO Headquarters.
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