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Wednesday, December 2, 2015

Indian book market to touch 739 billion by 2020: Survey

New Delhi, Dec 1 (PTI) India's book market, currently worth Rs 261 billion making it the sixth largest in the world and the second largest of the English language ones, is expected to touch Rs 739 billion by 2020, says a survey.

"Nielsen India Book Market Report 2015: Understanding the India Book Market" was conducted in association with Association of Publishers in India (API) and the Federation of Indian Publishers (FPI) to evaluate the opportunities and challenges facing the industry, as well as where its future lies.

The study estimates a CAGR (compound annual growth rate) of 19.3 per cent for the industry in the next five years.

However, the Indian book industry receives no direct investment from the government - "a serious roadblock for publishers," the report says.
Other challenges include the fragmented nature of publishing and bookselling, a tortuous distribution system; long credit cycles that make it difficult to manage cash flows, and increases in direct costs. Piracy is widespread, with virtually every street in the country home to stalls selling pirated texts.

The report, among other interesting facts, also highlights that India is the second largest English-language print book publisher in the world with over 9000 publishers. More than 70 per cent of publishers in India have digitised their content to produce e-book versions - smartphones and e-readers offer consumers opportunities to access digital content.

Further, books have emerged as an instrumental category for e-commerce business, accounting for 15 per cent of the overall e-commerce trade, just trailing behind electronics (34 per cent) and apparel and accessories (30 per cent).

The study said that "general and literary fiction" was ranked the #1 genre in the trade books segment while "test prep" was the most sought after genre in Academic books.

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