Ad spends in print and television in India grew 28% year-on-year during the April-June quarter, Mint reports, citing a Nielsen study. Ad spends growth in India led a resurgence in the Asia Pacific region, which overall grew 11% to $29.96 billion during the period. The story has differing voices from the industry and quotes an unnamed industry source who said the soft drinks sector will spend 20% over its 2008 budget of Rs350 crore.
Finance minister Pranab Mukherjee has written a “strongly worded letter” to communications minister A. Raja asking him to hold the 3G auctions in December itself. Raja had earlier said the auction, which is expected to raise Rs30,000 crore for the exchequer, may go into 2010 due to spectrum shortage.
From the BS story: “Any delay in conducting the 3G auction, particularly after the ground rules have been decided by an Empowered Group of Ministers (which Mukherjee chaired), would prejudice national interest and send mixed signals to potential investors, the finance minister