The publishing industry in India is defined by a vast set of variables. The publishing industry in India is largely reader driven. India is the world’s third-largest book market & the good news is that the reader base in India is growing. India has always been a multilingual country & With the country set to become a hub of the largest English speaking population, books sales will directly go up. Secondly, the number of writers in India is also increasing, with more and more new authors finding ways to make it to the market.
The Indian book publishing industry is very attractive and a high growth potential, but is operating in an extremely competitive market, with over 16,000 largely small publishers spread across the country. With the Indian economy and the education sector booming, the industry is at a new juncture of growth.
In spite of many of the hassles in traditional publishing modes, the emergence of online media is one opportunity India cannot afford to overlook. In fact, Indian e-publishing industry is expected to grown at 35% per annum, offering immense outsourcing opportunity.
The e-book industry has grown from $78 million in sales in 2008 to $1.7 billion in 2011 & estimated e-book sales will be $3.55 billion in 2012. the market for e-books is set for a rapid increase in India. Today, publishers are aggressively converting books into e-books to try out the potential of this virgin market.