MAM
India’s influencer marketing industry estimated to reach Rs 3,375 crore by 2026: EY – Collective Artists Networks Big Bang Social report
Mumbai: Highlighting the influencer marketing trends in India, the latest report by EY and Collective Artists Network’s Big Bang Social indicates that the industry is poised for significant growth. The report titled ‘The State Of Influencer Marketing in India’, states that influencer marketing in India is expected to surge by 25 per cent in 2024, reaching Rs 2,344 crore, and further expand to Rs 3,375 crore by 2026. These projections underscore the continued growth and immense potential of the influencer marketing industry, presenting ample opportunities for brands, marketers, and influencers alike.
The report highlights a crucial insight: with 50 per cent of mobile usage dedicated to social media platforms, integrating influencer marketing into communication strategies is essential for marketers. In addition, it is expected that there will be 740 million active smartphones in India by 2030. Consequently, three out of four brand strategies are expected to include influencer marketing. Brands prioritize engagement rate and the quality of the target audience when selecting influencers, recognizing the importance of authentic connections in reaching their desired audience.
Reflecting on the key findings of the report, EY India partner, marketing advisory Amiya Swarup said, “In today’s rapidly changing Indian society, citizens face transformations in various aspects – be it societal norms, career paths, financial strategies, or cultural shifts. Influencers are stepping in to provide guidance, reassurance, and advice, effectively assuming the role of contemporary heroes. Coupled with the projected growth in influencer marketing, it’s clear that influencers now define an unprecedented era of knowledge and impact, while also unlocking vast opportunities for brands and marketers.”
The report further reveals that the growth of influencer marketing is anticipated to be driven by lifestyle, fashion, and beauty categories. Further insights from the survey indicate that sectors such as automobiles, e-commerce and FMCG are expected to increase spending on influencer marketing the most.
Collective Artists Network group CEO and founder Vijay Subramaniam shared, “It is heartening to see that brands are recognizing the potential of the creator economy and are increasingly investing in influencer marketing, with sectors like FMCG, automobiles and consumer durables leading the way. This report should serve as an invaluable resource for brands seeking to harness the power of influencer marketing to connect with their audience, drive engagement, and achieve sustainable growth in the dynamic and competitive landscape of the Indian market.”
It was found that marketers must strike a strategic balance between mega/ macro influencers to drive awareness and brand loyalty, while also tapping into the power of micro/ nano influencers to drive engagement. Interestingly, nano influencers had the highest engagement rate compared to other influencer categories. It is important to note that 47 per cent of brands preferred driving influencer campaigns with micro and nano influencers due to the lower cost per reach.
Challenges were reported from both the brand side and influencer side. The biggest challenge for marketers was determining the ROI of their influencer marketing campaigns, while building a loyal audience and maintaining credibility were the top two challenges for influencers.
Key insights:
- 75 per cent brands are expected to consider influencer marketing as part of their marketing strategy.
- 56 per cent of the brands invested more than 2 per cent on influencer marketing.
- 70 per cent of brands plan to keep their influencer marketing budget the same or increase it in 2024, with half planning to increase it by up to 10 per cent
- 77 per cent brands believe that their agencies are fairly equipped to drive influencer marketing campaigns.
- 71 per cent of brands engage with influencers on a fixed fee model and 29 per cent are exploring performance linked models to drive influencer accountability.
- 77 per cent of influencers reported income growth in the past two years and 86 per cent of influencers expected over 10 per cent increase in their income over the next two years.
Big Bang Social CEO Anurag Iyer commented, “India is often described as a young and aspirational country, and as one of the fastest-growing major economies in the world, it is a complex time to be an Indian. In the world of digital marketing, where getting 2-3 mins of attention from a consumer is a massive challenge, creators are able to capture undivided attention with their creativity. May this report serve as an invaluable resource for brands seeking to harness the power of influencer marketing to connect with their audience, drive engagement, and achieve sustainable growth in the dynamic and competitive landscape of the Indian market.”
This report reflects the findings from the survey of CMOs, creators, agencies, and individuals.
Brands
Wipro hires 7,500 freshers, withholds FY27 hiring outlook
Profit rises to Rs 3,522 crore, Rs 15,000 crore buyback announced.
MUMBAI- Hiring may be on, but visibility is off, Wipro is adding talent even as it pauses the crystal ball. The company hired 7,500 freshers in FY26 but stopped short of offering any hiring outlook for FY27, underscoring the uncertainty gripping the IT services sector as it pivots towards an AI-led operating model.
The disclosure came alongside its fourth-quarter earnings, where management flagged volatile demand conditions and refrained from committing to future workforce expansion. Chief human resources officer Saurabh Govil noted that over 3,000 of the total hires were onboarded in the March quarter alone, signalling continued intake despite a lack of clarity on deployment pipelines.
This divergence active hiring without forward guidance reflects a broader industry pattern where talent acquisition continues even as deal conversions remain uneven and client spending cycles stretch. Wipro expects its IT services revenue for the June quarter to range between a decline of 2 per cent and flat growth sequentially in constant currency terms, reinforcing near-term caution.
Chief executive officer Srini Pallia pointed to artificial intelligence as both a disruptor and an opportunity. He said evolving client priorities are pushing the company towards outcome-driven engagements, with Wipro increasingly focusing on a services-as-software model through its AI Native Business and Platforms unit. The shift marks a structural change from traditional headcount-led growth to AI-enabled delivery frameworks.
The company has already committed over $1 billion to its AI ecosystem, with investors closely watching how these investments translate into revenue. For now, the numbers present a mixed picture. Net profit rose sequentially to Rs 3,522 crore, while revenue grew 3 per cent to Rs 24,236 crore. However, core IT services performance remained under pressure, with full-year revenue declining 0.3 per cent in dollar terms and 1.6 per cent in constant currency.
Large deal bookings offered a counterpoint, rising 45.4 per cent year-on-year to $7.8 billion, highlighting a widening gap between deal wins and actual revenue realisation. On a quarterly basis, IT services revenue slipped 1.2 per cent sequentially, signalling continued softness in execution.
Margins, however, told a more optimistic story. Operating margins expanded to 17.3 per cent in the fourth quarter, up from 14.8 per cent in the previous quarter, reflecting improved cost discipline. That said, the company cautioned that upcoming wage hikes and the ramp-up of large deals could exert pressure going forward.
Attrition stood at 13.8 per cent in the March quarter, indicating stabilisation after periods of elevated churn. Alongside its earnings, Wipro also announced a Rs 15,000 crore share buyback, reinforcing its focus on shareholder returns, with a payout ratio of 88 per cent over the past three years.
Taken together, the numbers capture a company in transition investing in AI, maintaining hiring momentum, but navigating a demand environment where growth is uneven and visibility remains limited.
