India: One of the fastest growing advertising markets in the world

Advertising spend in India is expected to grow by 13.3 per cent year-on-year in 2016, with a similar growth rate of 13.4 per cent anticipated in 2017, as per Warc market intelligence service. The report further said that the market is expected to continue to grow at a similar rate (13.4 per cent) in 2017. With the expected growth rates, India can be expected to be one of the fastest growing advertising markets in the world. At the same time, the global advertising spends are expected to increase by 4.5 per cent during 2016 and 4.2 per cent in 2017. Mobile advertising is expected to be the fastest-growing advertising channel in 2017 at 34.2 per cent, compared with the 47.1 per cent growth in 2016 against 2015.

In another significant development, the Food Safety and Standards Authority of India (FSSAI) plans to invest around Rs 482 crore (US$ 72.3 million) to strengthen the food testing infrastructure in India, by upgrading 59 existing food testing laboratories and setting up 62 new mobile testing labs across the country. In addition, FSSAI also plan to undertake a School Food and Hygiene Programme under which basic Food Testing labs are expected to be set up in 1500 schools/colleges across the country to promote a culture of safe and wholesome food.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.