Ever since Bharatiya Janata Party anointed Gujarat Chief Minister Narendra Modi as its prime ministerial candidate, a rejuvenation of sorts has been noticed in the corporate sector. The political parties and those who are trying their luck in the upcoming Lok Sabha polls are expected to pump in around Rs 2,500 crore in the advertisements. JPN/Bureau
This expense is altogether different from the expenses which will be incurred during campaigning and distributing gifts among electorates prior to polls. The Centre for Media Studies has put the estimated expenditure in this year’s election-related campaigns and advertisements at Rs 30,500 crore. Taking this fact into consideration, the 2014 Lok Sabha polls would be one of the most expensive elections in the world.
It’s mainly due to this very reason the advertising industry in India is still on the flourishing side in spite of low growth rate and inflation. A leading advertising and public relations firm says that half of the revenues earned by the ad agencies this year will come from the poll-related campaigns and promotions.
Not only big political parties are investing a huge amount of money, but lesser known outfits as well as independent candidates are not shying away from putting their money to promote them via advertisements. The BJP has reportedly hired Prasun Joshi and Piyush Pandey to give an edge to its poll campaign.
The Congress is not lagging behind as well. It’s being estimated that the party is spending around Rs 800 crore in different ad-related campaigns. A number of ads featuring achievements of state governments, even where regional parties are at helm of the affairs, apart from Narendra Modi’s Gujarat, can be seen occupying a massive space in newspapers and televisions.
The ruling Samajwadi Party in Uttar Pradesh, taking a cue from Gujarat and Madhya Pradesh has started large-scale promotion of state’s tourism features. In a similar fashion, Tamil Nadu Chief Minister J Jayalalithaa has also switched on to ad route to propagate her government’s achievements.
Overall, the advertisement industry is definitely earning enough dividends in this age of ‘Modi wave’ and this has definitely come off as major relief for the ad-firms.
Ever since Bharatiya Janata Party anointed Gujarat Chief Minister Narendra Modi as its prime ministerial candidate, a rejuvenation of sorts has been noticed in the corporate sector. The political parties and those who are trying their luck in the upcoming Lok Sabha polls are expected to pump in around Rs 2,500 crore in the advertisements.