The Indian growth story has been chronicled by many, and at its heart has been the sometimes elusive, and sometimes exclusive, the Indian consumer. This March, India’s No. 1 business medium CNBC-TV18 along with the most renowned worldwide firms in research, Boston Analytics will introduce the CNBC-TV18 Boston Analytics Consumer Confidence Index, that is conceived with an objective of providing, policy makers, corporates, market participants, researchers, industry leaders and trend watchers, an in depth insight into the minds of the Indian consumers.
The Customer Confidence Index (CCI) is defined as the degree of optimism on the state of the economy that consumers are expressing through their activities of savings and spending. The world’s first CCI was introduced in the USA in 1985, and has a sample of 5000 people. It is a crucial tool that enables the user to understand the consumer’s mindset and thus make an informed assessment about the future course of the economy. The CNBC-TV18 Boston Analytics Consumer Confidence Index is carefully designed to reflect the aspects of the Indian economy like employment, inflation, savings, spending and real estate through the eyes of the Indian consumer.
The CNBC-TV18 Boston Analytics Consumer Confidence Index will be released every month and shall be based on a sample size of 10,000 respondents spanning 15 cities in India, thus making it the largest Consumer Confidence Index in the world. The index will be based on the level of consumer confidence over time on various parameters like Current Situation, Future Expectations, Inflation, Employment, Consumer Spending, Savings and Real Estate.
Speaking on the series, Mr. Neel Chowdhury- Vice President, Marketing, CNBC-TV18 and CNBC AWAAZ said, “The CNBC-TV18 Boston Analytics Consumer Confidence Index is a testament to the unparalleled leadership of both the brands, and will be the largest in the world. The CCI will not only add a totally new dimension to our programming mix, but more importantly it will provide India Inc. with a tool to gauge consumer sentiment, a subject that holds the key to their fortunes.”
Rashid Bilimoria, CEO, Boston Analytics commented "We, at Boston Analytics, are very excited to collaborate with CNB- TV18 in releasing India's first monthly consumer confidence index. Any market driven economy is vastly influenced by consumer spending. For instance, in India, consumer spending accounts for over 60% of the GDP. This definitely explains the need to track consumer confidence in this country.”
As a lead up to the launch of the Consumer Confidence Index, CNBC-TV18 will present two introductory episodes (1st at 10:30 PM on 22nd February and 2nd at 10:00 PM on 28th February) and the first findings of the Index will be presented on CNBC-TV18 on 3rd of March, 2009.
About CNBC TV18:
CNBC-TV 18 is India's No.1 business medium and the undisputed leader in business news. And its leadership epitomizes the fact that India means business. It delivers quality and involved audiences that comprise a comprehensive viewership base greater than similar offerings in the business space across all media. The channel's benchmark coverage extends from corporate news, financial markets coverage, expert perspective on investing and management to industry verticals and beyond. CNBC-TV18 has been constantly innovating with new genres of programming that helps make business more relevant to different constituencies across the country. CNBC-TV18 is currently available in over 30 million households in India.
About Boston Analytics
Boston Analytics provides its corporate, consulting and financial clients the most current, accurate and actionable research and analysis—so they can be the first to uncover and exploit opportunities. The firm’s work powers knowledge processes and enables effective decisions at all levels of its clients’ businesses. Boston Analytics brings together leading analytical minds worldwide, delivers robust offerings of knowledge services, and works as a genuine partner. Boston Analytics delivers enterprise-wide knowledge advantage by providing fully customized knowledge services as well as flexible, preconfigured knowledge products and repositories. All knowledge services and products are tailored to meet the specific needs of corporations, consulting companies, and financial services firms. Analytics is headquartered in Boston with offices in New York, London, and Mumbai. For more information visit www.bostonanalytics.com
The CNBC-TV18-BA CCI has been carefully designed to reflect the conditions and priorities of the Indian economy. The development has been carried out by a team of economists and statisticians lead by Dr. Sam Thomas, Ph.D., Director of Research and Development for Boston Analytics and Professor of Banking and Finance at the Weatherhead School of Management, Case Western Reserve University, Cleveland, Ohio.