Indian Public Relations Industry To Grow To Rs 3500 crores by 2027 Says PRCAI

Indian Public Relations Industry To Grow To Rs 3500 crores by 2027 Says PRCAI

Indian Public Relations Industry

Mumbai, September 1st, 2023: The Public Relations Consultants Association of India (PRCAI) hosted second edition of its flagship thought-leadership forum – Prologue 2.0. Igniting an engaging dialogue during Prologue 2.0: ‘Storytelling In The New World Order’, PRCAI revealed optimistic growth estimates for the industry to reach 3500 crores by 2027, at an annual growth rate of 11%.

PRologue 2.0 invited top corporate leaders including Shiv Shivakumar, Operating Partner at Advent International, and Partha Sinha, President, Bennett Coleman & Co. Ltd to deliver remarks to more than 250 communications and business professionals.

The most awaited industry event is a combination of trend discussions at PRologue 2.0, followed by Sabre South Asia 2023 Awards that celebrates the most creative and interesting work in the field of public relations. While more than 50 awards were given to compelling campaigns, Radhika Gupta, MD & CEO, Edelweiss MF was awarded the top honour of CEO of The Year at the SABRE South Asia 2023 Awards.

The conference covered new trends on changing consumer landscapes in the new digital age, and offered insights on how storytelling around authentic narratives, credible consumer experiences, and creativity in content leadership will be key to building strong business and corporate reputation.

Kunal Kishore, Vice President, PRCAI said, “In today’s dynamic and increasingly complex communication landscape, AI emerges as a crucial partner, helping us decipher the tangled web of voices and information from vast and varied sources. A harmonious synergy with AI will help us navigate data complexities, empowering communication professionals to concentrate on storytelling and building connections, while AI-driven data analytics gives us real-time insights into our efforts. Communication professionals and AI will work hand in hand to amplify brand presence across every platform, traditional or futuristic. Undoubtedly, it’s the perfect time for the communication space to embrace AI.”

At PRologue 2.0 stage, PRCAI demonstrated its commitment to raise the bar for industry talent by felicitating 50 young PR professionals from across the country, who won the prestigious Accreditation in Indian Public Relations (AIPR) certification, representing top achievers from Winter 2022 and Summer 2023 batches. AIPR acknowledges emerging practitioners who have showcased unparalleled proficiency and mastery in this domain.

Deeptie Sethi, CEO, PRCAI, said “The projected growth of the industry and increasing trust of C-Suite in our profession to positively impact businesses, needs world-class workforce for today and tomorrow. We are progressively building a strong talent base to serve future businesses and the prestigious certification is a step in the right direction. We are proud of these winners and will continue to grow this pool of professionals.”

With the growing relevance of reputation management, the need for skilled professionals is poised to surge in the future for the Public Relations industry. PRCAI industry study, SPRINT Report 2022-23, revealed in order to meet the growing demand, sector will be adding about 8000 professionals by 2027, growing at CAGR of 11 percent which employed 12000 professionals in FY 2022 in the organized sector.

With higher levels of digital integration, PR firms will seek to hire candidates with expertise in social media, content creation, and digital marketing in the near future. New specialized skills such as public policy, ESG crisis communications, and risk management will witness increased hiring of graduates and MBAs to bring new perspectives and areas of specialization.