India’s ad industry is expected to grow 16.8% this year, taking the total advertising market to Rs 51,365 crore, as per the Pitch Madison Advertising Report 2016. It added Rs 6,586 crore in 2015 alone, driven by FMCG, which contributed 31% to overall growth compared with the ecommerce segment, which contributed 12%.
Sam Balsara, Chairman, Madison World, said, “Our prognosis for 2016 is that it is going to be yet another GOOD YEAR for Media. In arriving at the numbers we are conditioned by the fact that the Indian economy has become the fastest growing economy of the world; our GDP growth rate at 7%+ is the envy of the western world, now looking at India in new light; our BJP govt tells us that it has made a number of structural interventions to prepare the economy for high growth and continues to remind us that they are strongly focused on stimulating the country’s economic growth for which pro- business policies are essential; at the same time not ignoring subsidies for the poor, which should also add to purchasing power of Rural India and finally Commodity prices including that of Oil are likely to remain soft throughout 2016.
