A dramatic upsurge in advertising is driving the Indian media and entertainment industry according to new figures from KPMG.
Advertising in India rose by 17 per cent to hit 266bn rupees (£3.66bn) in 2010 outstripping the growth in the media and entertainment sector as a whole which was up 11 per cent in 2010 over 2009 at 652bn rupees (£9bn).
The media and entertainment sector as a whole is forecast to increase by 13 per cent in 2011.
Although television and print continued to dominate the media and entertainment sector, areas like gaming, digital advertising and animation showed high growth rates, the report said.
If the figures are correct the Indian ad market is now about a quarter the size of the UK’s, £14.5bn in 2009 according to Advertising Association figures.
But with growth forecast to be about triple that of the UK (13 per cent against four per cent) India should easily overtake the UK within the next 20 years.
Which is presumably why the big marcoms companies, among others, are getting so excited about it.