At People Research on India’s Consumer Economy (PRICE), we are driven by a simple yet powerful goal: to provide a people-level, single-window view of Consumer India and Citizen India. While macroeconomic and supply-side data dominate discussions on India’s growth, we believe true insights come from understanding how Indians earn, spend, borrow, save, live, think, and access public goods.
When PRICE was established, we received lightweighted jibes about the name, “People Research”. Yet, we stood by it because our mission is to put People at the center of economic and policy discussions. Through our research, we have seen firsthand how data rooted in people’s lived experiences can challenge widely accepted assumptions—whether in business, policymaking, or governance.
We also made a conscious and resource-intensive decision to be more than just a think-tank. As a fact-tank, we generate robust, pan-India, people-level primary data that fills crucial gaps in understanding India’s economy and society. At the same time, we ensure our data aligns with large government surveys such as the National Sample Survey Organisation (NSSO) and the Census of India, making it a valuable complement to existing national datasets.
Reliable, people-level data that truly represents all Indians is difficult to find. Discussions on policy effectiveness and government performance often rely on supply-side metrics—such as the kilometers of roads built or the number of students completing high school—rather than measuring their actual impact on people's lives. For instance, while we know from macroeconomic data that agriculture’s share in India’s GDP and rural economy is shrinking, this statistic alone does not reveal the extent and nature of rural households’ financial dependence on agriculture. Assumptions based solely on macro data can often be misleading. A clearer picture emerges when we examine household income sources in detail. At PRICE, we bridge these data gaps by going beyond macroeconomic trends to understand how rural households earn—whether through farm activities, non-farm work, or a combination of both. By capturing these nuanced income patterns, we provide fact-based insights that help policymakers, businesses, and researchers make informed decisions, ensuring that economic discussions are rooted in the realities of people’s lives rather than broad statistical estimates.
While large-scale government databases provide valuable insights, their infrequency and lack of integration limit their ability to inform timely policy and business decision. Additionally, they often lack the comprehensive, interconnected measures needed to fully understand the evolving dynamics of People India. To bridge this gap, PRICE captures a holistic view of household well-being through 13 thematic areas that shape people’s lives and economic choices. These focus areas allow us to examine the interconnections between income, consumption, financial behavior, and access to essential services, providing a deeper understanding of the opportunities and challenges faced by Indian households.
Our 13 Thematic Focus Areas
📌 Household Incomes – Understanding income distribution across economic groups and sources.
📌 Household Consumption (Rural & Non-Rural) – Mapping spending patterns and their impact on economic well-being.
📌 Basic Amenities & Infrastructure – Evaluating access to essential services like housing, electricity, and sanitation.
📌 Education & Employment – Assessing the role of education in economic mobility and labor market outcomes.
📌 Borrowings & Savings – Examining financial security, debt burdens, and future planning.
📌 Economic Security & Risks – Identifying factors that influence financial stability and resilience.
📌 Health & Well-being – Measuring access to healthcare and its impact on productivity and quality of life.
📌 Social Security & Protection – Understanding the reach and effectiveness of government schemes.
📌 Access to Public Goods – Evaluating availability and usage of critical public services.
📌 Digital & Financial Inclusion – Tracking how households engage with digital banking and financial tools.
📌 Mobility & Connectivity – Studying transport and digital access as enablers of economic participation.
📌 Aspirations & Lifestyle Changes – Analyzing shifts in consumer behavior and life choices.
📌 Household Dynamics & Decision-Making – Understanding intra-household roles, gender dynamics, and decision-making structures.
Beyond this, standardized economic models often estimate how household income is distributed across them. However, our primary data frequently diverges from these estimates—often with good reason. Our research not only reveals how much of India's total income is held by the richest and poorest segments but also examines how this income is distributed across states, rural and urban areas, occupational and educational groups, and varying levels of infrastructure development.
PRICE was founded with the mission of providing macro-consumer and people-level data to enhance business strategy and public policy. As a not-for-profit organization, we are committed to making more of our data center publicly accessible, as we have done with the pan-India ICE 360° Surveys of 2014, 2016, 2021 and 2023 (ICE stands for India’s Consumer Economy).
Collecting rigorous, all-India representative data on multiple parameters—allowing for disaggregated, meaningful analysis—is both complex and costly. This is particularly true when measuring household income, where our methodology goes beyond self-reported claims to ensure robust and reliable estimates. We hope to inspire more stakeholders in business and public policy to join and support our endeavor—expanding people-centric, data-driven insights for the public good. We also recognize the urgent need for another round of the ICE 360° Survey, given the significant shifts in India’s economy and society since our last survey. While the challenges are many, our commitment remains steadfast.
We are deeply grateful to the intellectuals, researchers, and policymakers who continue to inspire and challenge us, providing us with platforms to share our work and contribute to a more informed and inclusive India.
