India’s Book-Buying Habits Say A Lot About The Country’s Economy
By Iain Marlow
Controversial politicians. Celebrity cricket players. Spiritual gurus. India’s publishing industry, like the country’s broader economic story, has a lot to work with.
So it’s perhaps no surprise India’s GDP growth of 7.1 percent — the fastest among major economies — is fueling a boom in book sales. Indian publishing successes, in return, can help provide insights into the country’s growth and consumer confidence. It is a land where the travails of a saucy, soon-to-be-married Goldman Sachs Group Inc banker — in Chetan Bhagat’s fictional One Indian Girl — is a runaway best-seller.
Nielsen estimates the sector is now worth $6.76 billion. Led by educational books, the sector is set to grow at an average compound annual growth rate of 19.3 percent until 2020. That compares to compounded growth of less than 2 percent for global book publishing over the next five years, according to PwC. Read more