Starting today, Mint will partner with IIMS Dataworks on a month-long series, called India Unveiled, which aims to fill a key gap in what has been a major constraint for Indian companies and policymakers alike: lack of timely and reliable data about financial decision-making and behaviour within the country.
The series, which kicks off with a full-page graphic, is based on a mammoth survey whose findings seek to explain, for the first time, the financial behaviour of India’s paid workforce—an estimated 321 million people between the economically active age band of 18 and 59 years.
The survey, dubbed Invest India Income and Savings Survey 2007, was conceptualized by IIMS Dataworks in 2006, with fieldwork being carried out between November 2006 and May 2007 by more than 700 trained survey experts from ACNielsen.
The large-scale research involved surveying 97,000 people across the country who are paid workers—they had some income in the 12-month period before they were surveyed. These 97,000 respondents were finalized after a listing exercise involving a million people.
The study throws up many surprises and provides data that have never been available before. For instance, India has 3.5 million people who have invested in equities directly, 5.3 million people who have invested in mutual funds, and 1.59 million who have invested in both, which means the number of people who have exposure to equity is now 7.2 million.
For the next month, Mint will present exclusive findings based on this research.
IIMS Dataworks is an associate of Invest India Economic Foundation Pvt. Ltd, a research and consulting firm, which along with several major companies and policy organizations, invested about $2 million (Rs90lakh) in building what is India’s most comprehensive and sophisticated private database.