India's Print Book Market will hit Rs 1 Lakh Crore by 2024, According to India Book Market Report published today
Sep 30, 2022
New Delhi [India], September 30 (ANI/BusinessWire India): Nielsen BookData has partnered with FIP to produce and publish the long-awaited second edition of the Nielsen India Book Market Report. With the Indian print book market predicted to reach just shy of INR 1 Lakh Crore by the end of 2024, this new report provides an in-depth analysis of the Indian book market, including the size of the market in value terms as well as the contribution the sector makes to the Indian economy. Other highlights include a detailed look at the Indian education system and the role it plays within Indian book publishing, and the impact legislation has on the industry.
The publishing industry has changed enormously over the last five years and both organisations recognised the need to carry out new research and have collaborated closely to deliver this new report which provides a business-critical analysis of the market to inform and support the stakeholders of the Indian publishing industry, Government agencies and overseas investors.
Vikrant Mathur, Executive Director of Nielsen BookData India, said, "The India Book Market Report 2022 highlights the potential of print book publishing in India. It provides a deeper understanding of the market, its economic contribution to the Indian economy and makes recommendations to help bring efficiencies to the Indian publishing sector. Nielsen BookData is confident that this report will prove insightful and valuable for industry stakeholders, not just in India but also to those looking to invest in India."
Pranav Gupta, Joint Secretary of the Federation of Indian Publishers [FIP], who has been appointed as the Project Leader for this initiative from FIP said, "The Indian publishing industry is a vital part of the Indian economy and has been developing rapidly over the past few years. It also contributes substantially to the country's employment rate and plays a pivotal role in disseminating knowledge, invariably contributing to the robust development of the country's cultured ethos. The India Book Market Report 2022 occupies a prominent position domestically and internationally and has exhibited a linearly expanding growth curve. It will be of immense importance for people not only in operating in the publishing ecosystem but also for policymakers and investors in this sector."
The report will be launched today at a special event hosted by FIP at The Claridges Hotel in New Delhi with special guests and Ministers from the Government of India, the Indian Council for Cultural Relations, the National Secretary, Bhartiya Janta Party and The Nehru Centre London alongside representatives from the publishing industry.
Praise for the report:
"Having the third-largest market in the world for print book publishing is impressive. Not only does the industry provide a powerhouse for employment and exports for the economy, but it shapes the minds of India's young people through their education and cultural engagement. And yet the industry faces challenges. Policymakers should welcome the rich data provided in this India Book Market Report. It provides a sound foundation for them to shape policies which support the positive contributions which India's book publishing sector provides economically, culturally and educatively."
Kevin Fitzgerald CMG, FRGS, MA (Oxon) - Director, World Intellectual Property Organization, Geneva.
"If we are to understand the accelerated changes in international publishing, and explain them to policymakers, then we need solid data. I commend the Federation of Indian Publishers, and Nielsen BookData, for bringing this report together and demonstrating the positive impact of Indian publishing to the Indian economy but also to society as a whole."
Karine Pansa - President-elect, International Publishers Association, Geneva.
"I am delighted to be associated with this report as I found the previous edition published by Nielsen BookData immensely beneficial. The FIP has now collaborated with Nielsen BookData to release a new edition focusing on the book publishing ecosystem and its input to the Indian economy making it an invaluable resource for planners, decision-makers and policymakers in the book trade. It puts data at the heart of decision making and planning."
Asoke K. Ghosh - President Emeritus, The Federation of Indian Publishers.
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