WPP Media warns India ad spends may fall 10-15% next quarter as FMCG, energy brands tighten belts

Navin Khemka of WPP Media South Asia flags a potential 10-15% dip in ad spends next quarter, with FMCG and energy-linked advertisers rationalising discretionary outlays amid input cost pressures. Industry growth pegged at 7-8%, with EssenceMediacom claiming 2x-2.5x that pace. Consumer demand remains stable heading into festive season.

— Filed Tue, 2 Jun, 2026, 11:21 IST · Source ET Brand Equity · Updated

WPP Media's Navin Khemka warns India ad spends could drop 10-15% next quarter as FMCG and energy-linked brands rationalise discretionary spends amid input cost pressures, even as consumer demand stays stable heading into festive season.

Why this matters

Khemka's caution signals a sentiment shift among major advertisers, with FMCG and energy categories pulling back even as festive demand holds. The 10-15% dip forecast contrasts with EssenceMediacom's claimed 2x-2.5x industry-beating growth.

Retail-company signals steady at 1,628 over 90 days, indicating consistent sector activity.

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