NRI Buys Stake in India's Market Xcel

Japanese consulting services specialist Nomura Research Institute (NRI) has acquired a 25.1% stake in New Delhi-based Market Xcel Data Matrix, through which it plans to expand its research and consulting business activities to India.

NRI's Indian subsidiary will officially open in November, 2011, with around ten members of staff, and with plans to increase this number to around 30 within five years.

In a statement, NRI said that following the establishment in India, it is determined to 'vigorously pursue' global expansion of its consulting services, mainly in Asia and emerging countries.

Founded in 2000, and led by CEO R Vishal Oberoi (pictured), Market Xcel specialises in consumer and corporate surveys using face-to-face, CATI, online, depth and desk techniques. In addition, this time last year, the firm launched an omnibus, providing access to respondents in twelve cities across the country.

The company employs around 94 staff from offices in New Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderbad, Ahamedabad and Pune, as well as an operation in Singapore.

NRI - which provides consulting services on corporate strategy and business policy to clients in major Asian cities - says that interest in the Indian market is growing among many Japanese companies, and that the acquisition will provide clients with 'much quicker and more elaborate research and consulting services'.

Shiro Tanikawa, Director, Corporate SVP, comments: 'By capital investment in the local company, we will secure our research bases in eight cities in India which will enable us to establish an indigenous and full-fledged organization for research and consulting services. We will be the largest among Japanese consulting firms.'

Web sites: www.nri.co.jp and www.market-xcel.com .