MAM
71 per cent of Indian marketers’ budgets to increase in 2022: DCMN Growth Guide
Mumbai: At least 66 per cent of global marketers expect their budgets to increase next year, with this figure rising to 71 per cent for Indian marketers alone, showed a new analysis published by DCMN, the growth marketing partner for digital brands.
The ‘Growth Guide’ released on Thursday looks at marketers’ goals, strategies and challenges going into 2022, and points to a new period of growth for the industry.
While, in India, 71 per cent of Indian marketers surveyed expect an increase in their budgets in 2022, it was 75 per cent in France and 68 per cent in the US. It’s good news for marketing and advertising agencies with the vast majority of Indian respondents – 93 per cent – planning to increase their spending on agencies in the next 12 months.
Aside from spending on agencies, budgets will go towards experimenting with new formats and advertising channels. Outside of digital advertising, the three channels Indian marketers plan to focus on and invest in the most are mobile advertising, podcasts and linear TV.
The research also shows that 62 per cent of Indian marketers are more focused on long-term branding efforts, versus 33 per cent for performance-oriented goals. This is remarkably in-line with global figures, at 65 per cent versus 31 per cent.
The new year also comes with its own challenges. As advertising campaigns grow ever more complex, marketers in India are most concerned about managing and reconciling large amounts of data across channels. Keeping up with privacy regulations comes in second place, as policies targeting iOS and the future of cookies are set to dramatically reshape the marketing world.
The research conducted by Censuswide on behalf of DCMN surveyed 600 in-house marketers in the US, the UK, France, the Netherlands, Germany and India. The results offer an understanding of how the marketing landscape has changed after a tumultuous few years and how optimistic brands are heading into 2022.
“At DCMN, we wanted to take a closer look at where the marketing industry stands right now, and the impact of a disrupted 2020 and 2021. The results are impressive, and point to a marketing rebound in the coming year – both in India and in other countries around the world. Overall, we’re seeing that branding efforts remain top of mind for marketers. It’s also clear that brands still have huge faith in linear TV, with mobile advertising and TV set to be some of the most popular channels for marketers to invest in next year,” said DCMN country head – India Bindu Balakrishnan.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
