Yes, you read it right. Thats exactly what a ZenithOptimedia projection says. Internet advertising market in India was Rs 210 crores in 2006 and is likely to double to Rs 450 crores by end of 2007. The market is estimated to touch Rs 2250 crores by 2009, accounting for 6.8% of the entire advertising pie. Currently, Internet ad spend in India accounts for only 1% of the entire market.
These estimates seem a bit far stretched to me for a couple of reasons:
1) Broadband internet base is not growing at a meteoric rate
2) At the given time (mid 2007), there just arent enough publishers in India
via AgencyFaqs
I would say there aren’t enough quality publishers in Indian Internet space.