Tanushree Basuroy
Research expert covering India
Publishing industry in India - statistics & facts
From poring over newspapers with their morning tea to leisurely flipping through magazines to immersing oneself in fictional or factual tomes, the habit of reading has been inculcated in Indians right since childhood. With a literacy rate of over 75 percent, the publishing sector finds a promising consumer base in the South Asian country. This was illuminated by the sector’s growth trajectory with projections for 2024 estimating a market size of over 700 billion Indian rupees.
Magazines, while contributing a smaller share to print revenue, are popular among readers of business and entertainment news. Business India and Filmfare Magazine were the leading publications within these genres.
While sizeable, the Indian book market has been elusive to determine given its unorganized nature. Small and medium-scale book businesses compete with established publishing houses such as Jaico and Rupa. The growing English-speaking segment further attracted global players such as Penguin Random House, Hachette, and Harper Collins.
Digital newspapers such as Livemint, The Hindu, and The Economic Times are some of the most popular online Indian news platforms. However, the reach of online news in India remains limited due to the language barrier faced by a substantial number of non-English Internet users. While efforts are being made to enhance infrastructure and accessibility on this front, the audiobook segment allows for a wider range of content in various regional languages to be consumed. Platforms such as Storytel, Audible, and Kuku FM lead this segment.
Although the trend of digital publishing has caught on, the future of print publishing in India appears stable with the digital arm set to enhance growth.
Newspapers dominate India’s print market
The print industry is among the three major pillars that sustain the Indian media and entertainment sector. As the most trusted source of news among Indian consumers, newspapers drive revenue generation within this market. Given India’s diversity, newspapers and periodicals are published in over 20 languages, with those in Hindi and English being the most circulated. Daily newspapers in Hindi and Marathi were among the most consumed. Legacy newspaper groups such as Jagran Prakash, Times of India, and HT Media publish dailies and weeklies in multiple Indian languages.Magazines, while contributing a smaller share to print revenue, are popular among readers of business and entertainment news. Business India and Filmfare Magazine were the leading publications within these genres.
Fragmented book market
Home to literary greats such as Rabindranath Tagore, Sudha Murthy, Ruskin Bond, and Munshi Premchand to name a few, India has a rich literary heritage. A fair share of Indian consumers read and purchase books. The Indian book market is among the fastest growing in the world and is divided into the trade and non-trade segments. Academia also plays a key role with publishers such as Arihant Books and Jaypee Publishing being some of the leading textbook publishers.While sizeable, the Indian book market has been elusive to determine given its unorganized nature. Small and medium-scale book businesses compete with established publishing houses such as Jaico and Rupa. The growing English-speaking segment further attracted global players such as Penguin Random House, Hachette, and Harper Collins.
Print making way for digital
Just as digitalization has evolved media consumption, India’s gadget-obsessed consumers are more inclined to consume news and books digitally. Many publishers have embraced this trend and expanded their business into the realm of e-publishing. The launch of e-readers such as Amazon Kindle spurred e-book consumption and digital publishing in the country.Digital newspapers such as Livemint, The Hindu, and The Economic Times are some of the most popular online Indian news platforms. However, the reach of online news in India remains limited due to the language barrier faced by a substantial number of non-English Internet users. While efforts are being made to enhance infrastructure and accessibility on this front, the audiobook segment allows for a wider range of content in various regional languages to be consumed. Platforms such as Storytel, Audible, and Kuku FM lead this segment.
Although the trend of digital publishing has caught on, the future of print publishing in India appears stable with the digital arm set to enhance growth.
