Indian ad spends to rise 23.5%

Mumbai : Advertising spends across media platforms in India will grow by 23.5 per cent in 2021 to Rs 80,123 crore in 2021 after a sharp 21.5 per cent decline in the pandemic-hit 2020, a media buying agency estimated on Tuesday.

Terming the estimates as "not optimistic, but realistic", GroupM South Asia's chief executive Prasanth Kumar pointed out that they will still be lower as compared to the nearly Rs 83,000 crore achieved in 2019.

Weeks before the announcement of the pandemic, the agency had estimated a 10.7 per cent growth in ad spends for 2020 to Rs 91,641 crore.

India's rank slipped by one notch to being tenth in the overall ad spends across the world and the handsome growth in 2021 will help it regain the 9th spot, the agency said, adding that from a share in incremental spends, the country will be at the sixth spot.