Indian ad spends to grow 15.5% in 2023, will rank 8th globally, says GroupM

Adex will be driven by telecom, retail, banking and finance, travel and tourism

Domestic advertising expenditure (adex) in the current calendar year will grow at 15.5 per cent to touch Rs 1.46 trillion, according to media agency GroupM's latest forecast released Tuesday. The double-digit advertising growth will push India to the eighth position globally in terms of ad markets, from ninth last year, underpinning the consistent rise in adex over the last few years, the agency said. Telecom, retail, banking and finance and travel and tourism will be among the key sectors contributing to the advertising growth this calendar year.

"Indian adex will be the fastest growing globally at 15.5 per cent supported