MAM
Report on Shemaroo

What marketers expect from the Union Budget

Demand to improve consumer sentiment, push digitisation

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2021/02/01/union_budget.jpg?itok=VolRo3b3

NEW DELHI: After a massive slump in the economy that 2020 brought in with its unprecedented and uncertain nature, headlined by the Covid2019 crisis, industries are now valiantly trying to keep their heads above water. The road to recovery looks quite challenging from here, however, they are playing their bets on the upcoming Union Budget to improve the consumer sentiment, in turn impacting the advertising industry positively. 

Here’s what the top marketers and ad-land visionaries are expecting from the Union Budget 2021:

dentsu CEO India Anand Bhadkamkar: “2020 has been a difficult year for businesses across the spectrum. What, therefore, is required from the budget is a boost to the consumer sentiment. We are definitely wanting tax rates to not go up further. Additionally, it will be great if the businesses start getting some incentives for advertising and CSR activities. As an industry, we had appealed at the beginning of the pandemic too to give us some relief to businesses on the allowability of advertising spends as advertising eventually helps to boost the economy. On a larger perspective, there should be additional support for MSMEs and start-ups in the budget, which is the backbone of the Indian economy.”

VMLY&R Commerce Encompass CEO Ranjit Raina: “While the road to recovery post-Covid-19 is going to be slow it’s imperative that it stays steady. Budget 2021 will have a major impact on ensuring that the growth remains steady and spurs much-needed growth. Advertising growth is directly linked to GDP growth and any steps that give consumption a boost will inevitably benefit the industry. Personal taxation benefits always tend to help increase consumption, especially in sectors like FMCG, auto, and e-comm. As key contributors to advertising, this naturally has a positive effect on advertising spends. I am hoping that budget 2021 will focus on lowering the personal tax rates. It is very important to revive consumer confidence and give consumption a boost. From a business standpoint, I do feel we need to rationalise the GST in advertising and across the experiential marketing sector. 18 per cent is very high, the fact that cashflows are also impacted by GST rules exacerbates the economic hardship. A review and relaxation of GST would be a very positive step."

Do Your Thng founder Ankit Agarwal: “The media and entertainment industry is at the cusp of reinvention, courtesy the pandemic which the world faced in 2020. The WFH phenomenon, which is here to stay, accelerated shifts in consumer behaviour. The ensuing digital disruption helped the industry reach tipping points earlier than estimated. It is at the cusp of a humongous potential, much of it untapped. I sincerely hope the government recognises the above fact and provides more money in the hands of citizens. It’s all but expected that Budget 2021 will prioritise spending on a few key areas that bolster our battered economy. But we feel, despite the stretched finances the government faces at the moment, addressing the M&E segment will result in higher consumption, fuelling growth. The concomitant creations of more jobs will become another pillar to reinforce the entire economy.” 

Mobile Premier League (MPL) co-founder & CEO Sai Srinivas: “While the current financial year has been almost a washout for most sectors, the mobile gaming sector saw one of its fastest growth periods. Taking note of the potential of the gaming industry, the prime minister had also noted that India should lead the international digital gaming sector. There is a tremendous opportunity to support the game developers in India to make India the hub of gaming in the future. With this in mind, we would look forward to budget allocation for the creation of a gaming fund, which would incentivise more developers to access seed capital to set up gaming development companies; increase funds into the Start-Up India initiative that would encourage more gaming start-ups to flourish in the Country, creating healthy competition that would yield more significant innovation and ingenuity, fuelling the industry.” 

Droom founder-CEO Sandeep Aggarwal: “The aftermath of the COVID- 19 has not only accelerated the need of owning a vehicle but inclined towards online buying for an automobile to avoid physical contact. No country has ever created economic growth unless it has given transportation freedom to its people. With that, we hope the Indian budget 2021 continue to invest heavily in road infrastructure and don't criticize automobile for pollution because great road infrastructure will result in no pollution and no congestion on roads. In India, only five per cent of Indian households have a car, and 25 per cent of Indian households have two-wheeler vs 60 per cent of households with cars in developed economies. The auto industry expects relief from the Union Budget 2021-22 in the following multiple areas. Demonetization, GST, and confusion around EV and BSVI have really tempered automobile demand last several years. The government should aim to announce things in this budget that can simplify the automobile industry including direct and indirect taxation, whether making it more complex. I really hope that the government makes enough rules so that inter-state transfer of vehicles has a very low entry barrier and digitization of extremely important industry for the economy.”  

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/22/photogrid_plus_1619095463564.jpg?itok=VA_oRpnG
On Earth Day, L’Oréal Paris pledges to reduce its carbon footprint by 50%

Mumbai: Amid increasing urgency to combat climate change, brands around the world have begun reevaluating their production practices. Now, beauty brand L’Oréal Paris has announced its sustainability program, ‘L’Oréal for the Future, because our Planet is Worth it’, on the occasion of World Earth...

MAM Marketing Brands
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/22/photogrid_plus_1619075136291.jpg?itok=kl3ExQnh
Akhil Almeida is new head of marketing at Aegon Life

MUMBAI: Digital life insurance company Aegon Life has onboarded Akhil Almeida as its head of marketing. In this role, Almeida will be responsible for heading the company's branding, communication, and other digital marketing functions.  Almeida has more than 16 years of experience in various...

MAM Media and Advertising People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/22/photogrid_plus_1619071031749_2.jpg?itok=UsRFdJaE
Pankaj Gupta joins Coinbase from Google Pay

NEW DELHI: In an attempt to build a strong team from scratch, American cryptocurrency exchange company Coinbase has appointed Pankaj Gupta as its vice president - engineering and site lead for India. Before joining Coinbase, Gupta was leading Google Pay Engineering in APAC.  To expand its...

MAM Media and Advertising People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/22/photogrid_plus_1619070902751.jpg?itok=HDjT6uLy
Sanchita Roy takes over as head of strategy at Havas Media Group India

Mumbai: Havas Media Group India has strengthened its leadership team with Sanchita Roy taking over as head of strategy on Thursday. Roy had joined the group as head of west to manage the overall Mumbai operations in 2020 and carries over 19 years of experience in media planning and strategy.  In...

MAM Media and Advertising People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/22/herbalife_nutrition.jpg?itok=Y9FQ_jxE
IPL 2021: Herbalife Nutrition partners with Royal Challengers Bangalore

MUMBAI: Herbalife Nutrition is now the official nutrition partner to Royal Challengers Bangalore (RCB) for the 2021 season of the India Premier League. The global nutrition brand is known for fueling the performance of several sporting teams and athletes globally and this association reflects the...

MAM Marketing Brands
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/22/vineeta_singh-kaushik_mukherjee.jpg?itok=MVA5fqhp
From the verge of closing shop, SUGAR Cosmetics delivers 49X returns to investor

MUMBAI: How many people know that the now cult-favourite beauty brand of Gen Z and millennials, SUGAR was once on the verge of shutting shop due to lack of funding? The direct-to-consumer SUGAR Cosmetics founded in 2015 by IIM Ahmedabad alumni Vineeta Singh and Kaushik Mukherjee is one of the...

MAM Marketing Brands
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/21/img_21042021_153715_800_x_800_pixel.jpg?itok=Z45_2cVb
Panasonic India forms new strategic business division - Spatial Solutions

NEW DELHI: Panasonic India has unveiled its new Spatial Solution Division, a move to expand the company's strong presence in the smart home solutions market. The Japanese electronics giant has also promoted Dinesh Agarwal as the new joint managing director of Panasonic Life Solutions.  In this new...

MAM Media and Advertising People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/21/img_21042021_140427_800_x_800_pixel.jpg?itok=8nNu0MaV
Madison Media wins 23 new businesses in FY 2020-21

Mumbai: Madison Media has created a record by winning 23 new accounts in a financial year, the agency said in a press statement. Amidst the nationwide lockdown and work-from-home, the new business wins amounted to a billing of $211 million as per Convergence New Business Report published in March...

MAM Media and Advertising AD Agencies
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/04/21/img_21042021_132611_800_x_800_pixel.jpg?itok=tcsOlDNn
Washington Sundar signs on as Anker brand ambassador

MUMBAI: Chinese electronics company Anker has roped in Washington Sundar as its brand ambassador. From now, Sundar will helm all major campaigns for the brand across media platforms. The cricketer is also expected to appear in his first promotional TVC for the brand very soon.  The partnership...

MAM Marketing Brands

Sign up for our Newsletter

subscribe for latest stories

* indicates required