Should exit polls be banned? Axis My India MD Pradeep Gupta's defence is…
Axis My India had predicted 361-401 seats for the BJP-led alliance in Lok Sabha 2024 elections as against the actual tally of 293 seats.
Faced with criticism for wide off the mark exit polls, Pradeep Gupta, chief of Axis My India, dismissed calls to ban them as “childish.” He said that the public wants election results, and banning polls serves no purpose.
Opposition parties have sought a ban and investigations by SEBI and a Joint Parliamentary Committee, alleging that the stock market surged after exit polls predicted a landslide victory for the Bharatiya Janata Party (BJP) but plummeted when the election results did not give the party a clear majority.
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“First, they used to call exit polls unscientific, but now they want exit polls to be banned. These are childish talks. Every single citizen and organisation wants to know the election results and banning exit polls would serve no purpose. Exit polls are not just to tell who is winning and losing; it also helps political parties analyse the result,” Gupta said in an interview with PTI.
Axis My India had predicted 361-401 seats for the BJP-led alliance in Lok Sabha 2024 elections as against the actual tally of 293 seats.
'No stock market ties'
Gupta said Axis My India has no stock market ties and welcomed investigations to prove their integrity.
"My personal investment in stocks since April has been merely ₹35,000. Where have I benefited?" he said, adding that the company has no demat account.
'We need a law on exit polls.'
Gupta advocated for regulations to enhance credibility and aid in conducting business.
"We wrote to the home ministry; we were guided to the law ministry, which said that there is no law, so first, we need a law. From there, we were referred to the information and broadcasting ministry, where you get to set up a cell. We were told that you would publish a survey, but who would monitor who is right and wrong? Nothing has moved, but I strongly believe that we need regulations," he said.
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'We haven't worked for any foreign investors'
He clarified that Axis My India does not conduct exit polls for foreign investors and has no external investments. Gupta said the company focused on corporate clients, including the Bill & Melinda Gates Foundation, and denied any conflict of interest.
Regarding client disclosure, Gupta mentioned that in the 2019 Haryana assembly elections BJP was its cleint, but they accurately predicted a hung assembly.
"The prediction is part of a Harvard Business School case study and includes a disclosure. Wherever the client agrees we make a disclosure, there is nothing to hide," Gupta added.
(Inputs from PTI)
