CONTOURS
Publishing industry in India is one of the dynamically growing industry. which is fulfilling and completing the needs of Universities, Institutions, Academician, Students & Individuals. The story and life journey of the book is long one (Physical books to E- Books).
India is the top most favorite destination by major publishers who want to invest in publishing industry with a population of over 1.32 Billion people and will become number one by 2030 after surpassing china. Literacy rate also has a significant improvement since government spending a lot in education. Huge numbers of Universities, Colleges also playing a vital role. These are the factors which influencing western publishers to invest in Indian market.
With all those competencies Indian publishing industry has more to offer to world than other countries publishing industry. But when we have look another side of the coin we found that quality of Indian books degrading as well. What to say about Indian Publishers even European Publishers who is having their footprint in India has more focus on quantity rather than quality books. In broadly, we can say now this industry is running for money.
According to Federation of Indian Publishers that there are 20,000 Publishing house in India which is creating high impact upon industry.
CHALLENGES
In recent year most of the publishing company have seen overall decline in print books sales. The overall trend been changed now. Despite of steady growth it is going through many challenges.
Authors hopeful about that their book is going to be bestsellers, Publishers are looking for the more revenue.
Here are the some of the main challenging aspects of the publishers-:
Quality Content
Readers are growing rapidly on the internet & they look for quality content. A study shows 76% of those who click on bogus content leave the page they land on with 12 Seconds.
Instead on investing more on your website , invest in creating quality content so that readers quickly come land on your page and you will create prospects for your offering.
Digital Environment
Although the market for e-books are small but it is growing at a great rate. A cause behind is that despite the large base of Internet users in India only 26 percent of the Indian population accessed the internet in 2015.The number of internet users in India is expected to reach 500 million by June 2018. (source- Internet & Mobile association of India). Also e-reading devices are very expensive for most of the users.
Also end users or Y-Generation are very comfortable with e-books and find it very easy to read,to download, compare to print books. Slowly growing Competition between e-commerce companies i.e, Flip kart, Amazon are playing key role towards growing demand of digital content.
(Print to Digital)
Facts and Figures
- According to report published by Global market research firm Nielsen, India's print book market- which grew at a rate of 20.4 %, compounded annually between 2012 and 2015-is estimated to be worth 26,060 Cr INR. Nielsen's survey among urban consumers found that they prefer to buy more educational books than trade books.
- In spite of that, report will help global players to analyze the Indian publishing market to invest and penetrate Indian market.
- The International Standard Book Number is a 13 digit global standard number that encodes a country prefix and unique standard number for each & every titles published. This help to publishers to trace the life journey of particular title , from publisher's to its retail outlet. Raja Rammohan Roy National Agency for ISBN issued free of charge ISBNs in India, under aegis of ministry of human resources development.The ISBN system could have been a better source for keeping track of the total number of titles published in country and total number of publishers in country both in one hand. Though figure has not been updated since last couple of years and this give opportunity to publishers and open their hand to come with maximum number of titles. Although ,ISBN system has not been fully adopted by publishers in India.
- India is the 6th largest book market in world and 2nd largest to publish books in English after USA.
- Market for School books in 2013-2014 was 18,600 Cr and 5,600 Cr for Higher Education as per the report of Nielsen research.
(Digital Era)
Things to be done-: Here, Much Need to be done to improve the present status of the Indian Publishing industry, cutting edge technology and Digital era will drive the future for publishing industry. Indian publishing industry is going through many hurdles it requires well trained and updated workforce, Policymakers who can can decide the future of this industry and a visionary leader. A comprehensive study to be done every year to analyze the current market scenario, So that the titles which is published to cater the need of scholars , academics & student . If the things will change before change it can lead & Indian publishing industry has ample time to grow the future of publishing in India.
There is no end of Education, so it is the beginning of Publishing always.....