India’s print book market will hit INR One lakh crore by 2024, says India Book Market Report
Nielsen BookData and The Federation of Indian Publishers (FIP) have recently published the India Book Market Report 2022.With the Indian print book market predicted to reach just shy of INR One 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.
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, and its economic contribution to the Indian economy and makes recommendations to help bring efficiencies to the Indian publishing sector.”
While, 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 plays a crucial role in disseminating knowledge,invariably contributing to the robust development of the country’s cultured ethos and key contributor to initiatives of national importance like “Atma Nirbhar Bharat” and “Make in India”. Moreover, since a significant chunk of its production is education-allied, it contributes significantly to the New Education Policy. The report occupies a prominent place globally and has exhibited a linearly expanding growth curve. IMBR 2022 will be of immense importance for people not only in operating the Publishing ecosystem but for policymakers and Investors willing to invest in this sector.”