According to Hindu Business Line article titled “Ad spends to grow at 7.7%; India 14th largest ad market, says ZenithOptimedia ” Indian advertising spends are to grow at 7.7 per cent in a year. India now overtakes Norway, Mexico and the Netherlands to become the 14th largest advertising market, according to ZenithOptimedia.

The agency has downgraded its global ad growth forecast for 2009 to -8.5 per cent, from -6.9 per cent in April after the first quarter figures this year came in below forecasts. Not every market is in decline this year, though.

China is predicted to grow 5.4 per cent this year overtaking the UK to become the world’s fourth largest ad market.
The agency claims the global downturn in advertising is approaching its lowest point. While North America is expected to suffer a third year of decline into 2010 and Western Europe stagnates, the rest of the world should return to growth in 2010.