Indian ad industry likely to grow 10-15%, says Mudra chief

MUMBAI: With the domestic economy back on the growth track, the Indian advertising industry is poised to grow in double-digits and growth is likely to hover around the 10-15 per cent mark, an industry official said.

"The industry (advertising) is expected to grow in double-digits in the current year. It may clock a 10-15 per cent growth," advertising major, Mudra Group's Chief Executive Officer and Managing Director, Madhukar Kamath, told reporters here today.

However, the growth will not be comensurate with the industry's potential, which is gennerally four times of the gross domestic product (GDP), Kamath said.

Mudra is eying a good share of this growh, he said adding, "we are targetting a revenue of Rs 2,500-crore in the fiscal with an anticipated growth of 15-20 per cent in the business."

The Group has has four agency networks--Mudra India (Branding & Communication ), DDB Mudra (Influence & Behavioural change), Mudra MAX (Integrated Engagement & Experience) and Ignite Mudra (Partnerships for Entrepreneurs).

Earlier, Kamath inaugurated the Group's integrated bulding, Mudra House in the western suburb of Santa Cruz with a LEED Gold certification.

LEED (Leadership in Energy and Environmental Design) is the US Green Building Council's certification system for the design, construction, and operation of green building.

Spread over an area of one-lakh sq feet, the eight- storey structure with two basement parking space for 120-cars, will house all the Mudra Group employees based in Mumbai, which numbers over 460.