India’s PR industry is growing fast. A 2011 survey of 500 Indian PR professionals by the Associated Chambers of Commerce and Industry of India, indicated that the sector was worth $6 billion in 2010, is growing at 32% a year and will be worth $10 billion by 2012.
That growth is driven by an economy that rampages forward while much of the rest of the world falters. It is now the tenth largest in the world and is growing by 8.5% a year. The ICCO World Report has classed India as a 'fast emerging market' and points to energy, healthcare, retail and telecoms as areas with particularly strong growth prospects.
Talent remains the critical commodity, with high turnover levels particularly evident among younger PROs. Pradeep Wadhwa, Head of Corporate Communications in India for PepsiCo, says: “PR firms have been slower than their advertising counterparts in creating centres of excellence. Most agencies need to invest in training talent in order to provide more value to their clients.”
He believes that the industry is maturing fast and needs to build the corresponding skills. “Companies face greater scrutiny from a growing and fragmented media, NGOs and the public. At the same time almost every communication campaign today requires a 360 degree approach to reach a wide variety of audiences. Fortunately, many PR agencies have also realised this and are evolving into the kind of strategic communications consultants we need in India.”