The publishing market in India is reckoned to be the biggest and fastest growing in the world. Brands rule here. It is estimated that as many 90 publishing houses – global & homegrown – have their presence in India. 70,000 titles are being published every year. The books market is estimated to be around Rs. 13,000 crores comprising books (education and non education) newspapers, magazines, periodicals and academic journals. 30% of titles brought out in India are in English and the rest in Indian languages. Estimates put the annual growth rate of the industry at around 20 – 30%.
A 2008 report says that, with 62,483 newspapers and periodicals in 101 languages, and combined daily circulation of 99 million, India is the second biggest newspaper market in the world despite its poor literacy rates.
The publishing industry has just got another shot in the arm.
Penguin Books and Shobhaa De have come together to launch an imprint of Shobhaa De.
The co-branding exercise between Penguin and the writer involves Shobhaa De handpicking authors, titles and subjects. Shobhaa De books will comprise of celebrity memoirs, guides and biographies — with a focus on lifestyle, business, cinema and commercial fiction.
Publishing houses are scrambling to come up with creative ideas to capture and sustain the reading interest of the younger generation.
Earlier last year, UK-based Harlequin Mills and Boon entered India to search for the ‘world’s next big romance writer’ from India who would join their worldwide team of 1,300 writers.
In the next decade, publishers forecast that India will become the biggest English language book market in the world. New distribution networks and an increasing presence of chains of major bookstores are also fuelling the expansion.
Keep watching this space as we report on the trends & bring new developments for your reading & reference.