The size of India’s public relations industry is poised to touch the $6-billion mark by 2010 from the current $3 billion due to increasing competition among companies to build brands resulting in more sales, according to a survey conducted by the Associated Chambers of Commerce and Industry of India (Assocham).
The PR industry is also witnessing large-scale attrition level of up to 40 per cent, according to the Assocham survey. Seventy-five per cent of those surveyed attributed such an attrition level to keenness to have exposure in various emerging sectors.
“Since demand for PR professionals is rising, so are the opportunities,” said Venugopal N Dhoot, President, Assocham.
According to the survey, the Indian PR industry had about 1,200-1,500 agencies with a total manpower of 30,000 to 40,000 people. Besides healthcare, IT and consumer durables, some areas that have huge potential are public sector, environment and corporate responsibility, the survey stated. However, the industry is reeling under issues such as shortage of skills, leadership crisis and lack of understanding of the industry amongst newcomers, according to the survey.
The overriding concern of the industry is lack of talent. Almost all agencies are hiring, a trend that is itself indicative of growth, and some are looking outside the PR industry to bring in new skills. Although there are thousands of small agencies and individual consultants serving very local markets, larger agencies are forging partnerships across the globe to meet demand from clients, the survey pointed out.