The Indian government has launched a major push to increase advertising revenue, which is expected to boost the economy.
According to data from the India Advertising Council, the number of advertisements and the amount of money spent on advertising in the country increased by 8.4% in the fiscal year ended March 2017, compared to the same period last year.
The growth is driven by a combination of several factors, including the launch of new and expanded digital media platforms, more direct advertising, and a stronger economy.
In April 2017, the government announced a slew of initiatives to help increase ad revenues, including a pilot of a ‘Digital India’ program that allows ad-supported mobile apps to be run on the government’s new ‘Digital Economy’ platform.
However, the initiative was limited to local advertisers, and has not yet taken effect.
The government has also launched a Digital India initiative for the country’s largest advertisers, the ad-tech firms that are currently not eligible for government subsidies.
The government aims to make them eligible for a subsidy starting next year.
The push to boost advertising revenue comes as India has become the second-largest advertising market in the world after China.
It’s expected to overtake the United States as the largest market by 2020, according to a report released last month by digital agency WPP.