MAM
Middle East conflict casts shadow on IPL advertising, may deter investments in India
Gulf tensions rattle marketers as oil spikes, airspace shuts and brands pause
MUMBAI: The Indian Premier League has long attracted Middle Eastern brands eager to tap India’s vast television and digital audience. But this year, the conflict in West Asia is casting a shadow over that advertising push.
Over recent seasons, Gulf-based real estate firms, airlines, tourism boards, oil majors, logistics companies and retailers have steadily increased their presence during the tournament, drawn by the IPL’s massive reach.
Now, however, escalating tensions in the Middle East have put many of those plans on hold. Following joint US and Israeli strikes on Iran on February 28, and Iran’s retaliatory drone and missile attacks across the region, have heightened security concerns across Gulf nations. Airspace in countries such as the UAE, Qatar and Kuwait has been temporarily shut, while cities like Dubai and Abu Dhabi have also been rattled by the exchanges.
With the IPL scheduled to begin on March 26, uncertainty is beginning to ripple through India’s advertising ecosystem.
According to industry estimates, the crisis could wipe out between Rs 200 crore and Rs 250 crore in ad spending from Middle Eastern advertisers. IPL 2026 is projected to generate around Rs 4,900 crore in total advertising revenue.
According to media reports, several Gulf-based brands are likely to adopt a wait-and-watch approach before committing to campaigns. The impact is expected to be temporary, with broadcasters possibly facing some losses in the initial days. However, given the IPL’s massive reach and marketing potential, these brands are unlikely to stay away from the tournament for long.
The wider economic uncertainty triggered by the conflict is also weighing on corporate decision-making.
Fitch Group company BMI warned that escalating geopolitical tensions in West Asia could dampen investment flows into India and blunt the economic gains expected from upcoming trade deals with the European Union and the United States.
“From March onwards, we expect uncertainty to increase sharply due to the ongoing conflict in the Middle East. We believe this will discourage investment in India, offsetting the (EU and US) trade deals’ positive effects on GDP,” BMI said in its latest India outlook report, according to PTI.
While BMI maintained its FY2026-27 GDP growth projection for India at 7 per cent, it flagged rising geopolitical risks as a key downside factor.
One of the biggest concerns is energy.
The firm warned that a full closure of the Strait of Hormuz, the 33 kilometre wide shipping corridor linking the Persian Gulf to the Arabian Sea, could shave up to 0.5 percentage points off India’s GDP because of surging energy costs.
Following the strikes on Iranian military, government and nuclear facilities, Iran warned ships away from the strait while insurers withdrew coverage, effectively halting tanker movements.
For India, which imports roughly 88 per cent of its crude oil needs, any sustained spike in oil prices could sharply increase the country’s import bill and fuel inflationary pressures.
The early signs are already visible. Crude prices surged nearly 10 per cent within 48 hours of the escalation, often the first signal of economic stress.
At the same time, disruptions across Gulf airspace have stranded travellers and complicated global travel routes after several key aviation hubs, including the UAE, Oman, Bahrain and Saudi Arabia, temporarily closed their skies.
The uncertainty is spilling into marketing budgets as well.
Several advertisers have asked agencies to temporarily pause ongoing and upcoming campaigns while the situation unfolds.
After a sluggish FY25 and a sharp market correction, India’s media and advertising sector is now facing fresh turbulence just as it was preparing for its biggest annual spectacle.
For now, the IPL’s commercial juggernaut appears unlikely to stall completely. But if tensions continue to escalate in West Asia, the tournament’s advertising innings could begin this season on a cautious note.
Brands
FSS names Anand Krishnamurthi head of global digital delivery
Tech veteran to drive AI-first, cloud-led transformation in payments globally
CHENNAI: Financial Software and Systems (FSS), an AI-first payment infrastructure company, has appointed Anand Krishnamurthi as head of global digital delivery.
In his new role, Anand Krishnamurthi will lead FSS’s global digital delivery capabilities, focusing on AI-first and cloud-led transformation while ensuring predictable, high-quality outcomes for customers worldwide. He will be based in Chennai and report to V. Balasubramanian, CEO of FSS.
Bringing 28 years of experience in technology and digital transformation across banking, capital markets, financial services, and insurance, Anand has held senior leadership positions at Cognizant and NuSummit. He is recognised for scaling multi-geography delivery teams, leading mission-critical platforms, and embedding AI-driven automation in complex, regulated environments.
“What drew me to FSS is its deep payments expertise, strong product DNA, and the scale at which its platforms power real-world financial ecosystems,” said Anand Krishnamurthi. “I aim to strengthen delivery predictability, execution rigor, and engineering quality, building empowered teams that deliver measurable customer outcomes. FSS has a unique opportunity to create real-time, AI-infused payments infrastructure that is resilient, secure, and globally scalable.”
V. Balasubramanian added, “Anand’s track record in leading multi-geography delivery programs and AI-first operating models makes him the ideal leader for FSS as we accelerate our AI-driven digital payments business. His leadership will help us raise the bar for outcomes globally.”
This appointment is part of FSS’s broader push to build an AI-powered, cloud-native delivery organisation capable of meeting the evolving needs of banks, fintechs, and financial institutions worldwide.
