Indian Publishing Industry is considered as the sixth largest publishing industry in the world. Specific to the English language, this industry stands at the second position. In the digital era, where Print media is losing its identity, India’s Publishing sector is still a dominant force. In today’s world, excessive use of technology and computers have transformed all sectors including the publishing industry. Interestingly, India is one of the very few markets in the world that continues to witness growth in the print as well as Digital Publishing sector. India is home to approximately 19000 publishing houses which is estimated at USD 2 billion. The digital part of the publishing sector in India is emerging at an exponential rate. The e-book market, however, is small but is growing at a notable speed. The e-book market is directly dependent on e-reading devices. As long as e-reading devices are costly, the e-book market may not see its full potential.
As populous as India is, with approximately 1.3 billion people, the country witnesses more than 900 million readers. The country has a literacy rate of 74% and the country’s citizens have a wide range of reading interests, which opens many opportunities for the publishing industry. India needs a varied range of content creation as well as thorough dissemination. To meet the ultimate goals of all readership requirements, the digital, as well as the print publishing, will have to work together and effectively complement each other.
There are 234 million people who use the Internet in an Indian language and a mere 175 million who use English as a medium to operate the Internet. The gap between these two kinds of Internet users is expected to grow, as the trend shows that people prefer local language over any other language. The Hindi language forms the major part of this language mixture, about 35%, Malayalam- 8%, Bengali- 6%, Marathi- 4%, and Others- 47%. This shows that publishers have a huge opportunity to venture into publishing in any of these above-mentioned languages.
As per a study, on average, people in India read books approximately 2.1 times each week. On the other hand, 66.67% of the entire Indian population go for occasional reading. Of the people surveyed, 56% tends to buy at least one electronic book each year, and 50% of them buy at least three to four electronic books each year. This shows the growing demand for e-books in the Indian Market.
The Academic Publishing Industry of the country also flourishes, mostly because of funding from Corporate Social Responsibility. The growing emphasis on education is stimulating the demand for academic publishing.
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