We are a
About Price
- PRICE is an independent, not-for-profit research centre, a ‘think tank’ and ‘facts tank’ engaged in building and disseminating seminal knowledge and insights about India’s Macro Consumer Economy and Citizen’s Environment, for use in formulating public policy and in shaping business strategy.
- The core of PRICE’s work focuses on “how India, earns, spends, saves, lives, thinks, accesses public goods and amenities”.
- PRICE is committed to generating longitudinal data that will allow for realistic projections of India’s household incomes, consumption expenditures and savings for the coming decade.
- PRICE’s work also aims at enriching policy targeting via insights on key socio-economic, ‘state of nation’ and ‘inclusion’ indicators.
Our Mission
Our Mission is to build and disseminate high quality, inter-connected, reliable and up-to-date data to capture the ground realities of Indian households. By providing insights through relevant and rigorous analysis we aim at enabling evidence-led policy formulation, regulatory response and business decisions.
Our Goals
- Undertake high scholarship macro-consumer research on a regular basis to provide an objective understanding of Indian consumers and ‘Consumer India’.
- Encourage and enable all stakeholders (policy makers, global scholars, academicians, and regulators, market analysts and corporations) engaged in the development of public policy and business strategy, to bring greater consumer and citizen-centricity to their work.
- Fill existing gaps so that data users can sharply focus on the new realities of India and discard old assumptions.
Our Values
- Remain an independent not-for-profit entity with no allegiances.
- Maintain absolute integrity by reporting truthfully and transparently.
- Be an open source by putting data and information in the public domain as much as possible.
- Utilise grants and fees with utmost prudence and care and maintain due diligence through independent supervision.
Our Motivations
- Domestic consumption is a key pillar of India’s economy and a major contributor to economic growth. It is driven by households’ earning capabilities and by the spending choices they make. Yet in India we have very little household level data and insights on earning, and even though we have some on spending and savings, there is no integrated data or insights into how India earns, spends, saves, lives, thinks, accesses public goods and infrastructure.
- We also have a lot of ‘single point’ average estimates usually derived from macro-economic supply-side data. However, there is a lot of heterogeneity in Indian households and an ‘average’ provides little value, especially when macro-economic data or supply-side data is used to describe and analyze India’s consumer economy or citizens’ environment.
- The challenge, therefore, is to come up with an integrated model that factors in income data, product ownership data, demographics related information, psychographics, expenditure and savings data etc. to create a holistic, reliable and a multi-dimensional profile of today’s Indian consumer at a desirable micro level.