New Delhi : India Inc’s advertisement expenses have gone up by nearly 30-40 percent in the first two quarters of this fiscal due to a surge in demand and manufacturing, an industry lobby said Monday.
“A vast majority of corporates in private and public sector have hiked their budgets,” said the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
The sectors that have been spending large sums on advertisements include fast moving consumer goods, home and electronic appliances, automobile, real estate, textiles, gems and jewellery and luxury products.
“It has been noticed that magazines/newspapers who had reduced the number of pages in the past have suddenly increased the pages to accommodate the ads being sponsored by corporates,” said D. S Rawat, secretary general, ASSOCHAM.
And if this trend continues, the advertisement budgets of companies may go up in the next two quarters of the 2010-11 financial year.
“Ad promotion activities and enhancement in entertainment and other allowances will pick up fast, which will increase the growth of advertisement specially during the ensuring festive months,” ASSOCHAM said in a statement.