India’s public relations industry to touch $6 bn mark by 2010March 10th, 2008 - 5:37 pm ICT by admin
New Delhi, March 10 (IANS) India’s public relations (PR) industry is poised to double itself to $6 billion by 2010 from current $3 billion due to increasing competition among companies to build brands resulting in more sales, said an industry chamber. The PR industry, which has undergone a major paradigm change in the last decade, is also witnessing large-scale attrition level of up to 40 percent, said the Associated Chambers of Commerce and Industry of India (Assocham) in a survey conducted over 400 PR professionals.
“Corporates are opting to rope in PR professionals to increase their sales turn-over as one of finest marketing strategies,” said Venugopal N. Dhoot, Assocham president.
However, almost 90 percent of the hard-working and sincere PR professionals shift their jobs in search for better opportunities, the survey indicated.
A whopping 75 percent of those surveyed stated that the main reason for such an attrition level is the keenness to have exposure in various emerging sectors, with the country witnessing an economic boom.
“Since demand for PR professionals is rising, and so are opportunities, the relationship industries has shown a growth rate of about 22-25 percent in last couple of years. It has now risen to 32 percent and the trend will continue in future and even grow for better,” Dhoot added.
The Indian PR industry has about 1,200-1,500 agencies with total manpower strength of 30,000 to 40,000, the Assocham said.
Besides healthcare, IT and consumer durables, some areas that have huge potential are public sector, environment and corporate responsibility, the survey showed.
However, the industry is reeling under issues such as lure of better pay, shortage of skills, leadership crisis and lack of understanding of the industry amongst newcomers.
Tags: assocham, attrition, chambers of commerce, chambers of commerce and industry, consumer durables, corporate responsibility, corporates, economic boom, industry of india, keenness, last decade, leadership crisis, manpower, marketing strategies, paradigm change, pr industry, pr professionals, public relations pr, public sector environment, venugopal