A warning for ad industry?

The two-day Adfest begins today with 3,000-odd delegates participating in the event organised by Advertisement Agencies Association of India AAAI and Ad club Bombay.

Conclave Chairman Colvyn Harris said the advertising market is under developed in India compared to many developed and developing countries,despite high growth rates in the last five years.

8220;It is not growing at a fast enough pace to drive consumption. India contributes to 17 per cent of the world population but is only 0.7 per cent of the world advertising market,8221; he said.

Piyush Mathur,Regional Managing Director,AC Nielsen,suggested that the country should work on 8216;indo-vation8217;,an innovation emanating from India. 8220;Indo-vation is happening on the streets of India,8221; he said.

Shiv Moulee,Chief Client officer and Director Global Solution Board,Millward Brown opined that the consumers engagement with brand is declining over the years.

8220;In today8217;s environment brands needs to stand out,8221; they said.

8220;There is need to create unique space in the market. We are equal to any when it comes to effectiveness of advertising but creative impact is low compared to other countries,8221; Moulee said.