Indian Public Relations Industry To Grow To Rs 3500 crores by 2027 Says PRCAI; hire 8000 Professionals to its fold

PRCAI projects Public Relations industry to grow consistently, adding more than 8000 professionals.
PRCAI Prologue 2.0, in its second year, invited top speakers to discuss this year’s theme on ‘Storytelling in the new world order’. Radhika Gupta, MD & CEO, Edelweiss MF’ was awarded SABRE SA 2023 CEO of The Year; PRCAI recognized 50 AIPR Winners and felicitated them with the prestigious AIPR pin

Indian Public Relations Industry To Grow To Rs 3500 crores by 2027 Says PRCAI; hire 8000 Professionals to its foldMumbai, Thursday, August 31, 2023: The Public Relations Consultants Association of India (PRCAI) hosted the 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 professional.

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.

“Weaving a powerful storyline remains the cornerstone of the communication industry. In the modern world, narratives can extend beyond the initial sale and can keep customers and stakeholders engaged for over the period. It has ushered the global PR industry in a new renaissance of innovation and growth,” said keynote speaker, Shiv Shivakumar.

Kunal Kishore, Vice President, PRCAI said “Communication is playing a substantial role in driving business growth today and this partnership between companies and communications have meaningful conversations. In the new digital and data driven world, our role of consistent and persuasive storytelling is helping brands to shape their identity, reputation and values.”

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.

Editor’s Note:

Founded in 2001, Public Relations Consultants Association of India is India’s most credible and influential flagship trade association in public relations. Through its code of conduct, PRCAI promotes professional standards to create a more prosperous PR industry in India and encourages its 100 plus member base across categories to adhere to the highest standards of ethical practice. PRCAI is also the member of the International Communications Consultancy Organisation (ICCO), the umbrella body for 41 PR associations and 3,000 agencies across the world. The PRCAI through its appointed, elected leaders and National Chairs network provides cohesive and uniform support to its members across India through its programs, trainings, certifications, awards and thought leadership forums.

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