Is Online Advertising in India on the Upswing?

India. It sits in South Asia, tantalizing you with its 1.18 billion people. You know that with a growing service economy, decent Internet access and a ton of English speakers, there must be opportunities you can cash in on. It turns out you could be right.

Indian portal as just published a press release in which Ajit Balakrishnan, chairman and CEO, states

This past quarter, January-March 2010, has sent signals that the online advertising market in India is starting to recover after nearly three consecutive quarters. Advertisers in the Finance, Education, IT products, Electronics among categories who had stayed away or reduced their online budgets during the past three quarters are now back. This is reflected in our India Online advertisement revenues for the quarter increasing 29% on a year-over-year basis and 15% on a sequential basis. This increase in revenues is despite us foregoing all ads on our home page.