India’s financial capital, Mumbai could soon lose the top spot in Advertising as Delhi is reportedly set to beat Mumbai and be the advertising capital soon. It sis being reported that Delhi’s advertising markets is seeing a rapid increase in business.
According to a Times of India report, even 10 years ago Mumbai spent a whopping amount of Rs Rs 3,634 crore from advertising which included television, print and radio which is the which is about three-fourths of total advertising expenditure in the country. The same year, the national capital incurred an expenditure of Rs 2,780 crore for ads which was again only 75% of what Mumbai did.
However, the Delhi is seeing stagnant increase in advertisement business and even though it still lags behind Mumbai, the gap is closer than ever and if Delhi continued to improve in this manner it wouls soon overpower Mumbai. Apparently, businessmen are also choosing Delhi over Mumbai for setting up their base.
“Gurgaon can boast of some of India’s biggest spenders today like Airtel, Coke, Pepsi, Nestle, Reckitt Benckiser, Maruti, Samsung, amongst many others. Barring a couple of large ones, most agencies in NCR have moved to the Millennium City,” the daily quoted Satbir Singh, the former chief creative office of FCB Ulka in Mumbai as saying.
Another creative officer for an ad agency asserted that earlier people preferred to set up their base in Mumbai and have larger offices in Mumbai while set up secondary offices in Delhi, if required. However, tables have turned and now people choose to have larger offices in Delhi- NCR mainly in Gurgaon instead of Mumbai.