MAM
Zefmo releases its sixth India influencer marketing report 2023-24
Mumbai: Zefmo Media has released the sixth edition of the India influencer marketing report 2023-24, providing insights into the evolving influencer marketing landscape in India. The report, based on data from over 200 brands and 2,500 influencers, highlights the increasing importance of influencers in business strategies, digital marketing, and consumer engagement.
Key findings include:
. 76 per cent of marketers view influencer marketing as essential for brand building, emphasizing its role in consumer trust and brand authenticity.
. 54 per cent have shifted ad spending from traditional media to influencer marketing, with 37 per cent of influencers now working with non-commercial government initiatives to promote public awareness.
. 88 per cent of marketers note the convergence of influencer marketing and e-commerce, with 64 per cent integrating influencer-driven content to boost sales.
. 45 per cent express confidence in measuring the impact of influencer marketing, aided by new AI tools that provide real-time analytics and targeting.
. A rise in B2B influencer marketing is noted, with 55 per cent of B2B companies using influencers on LinkedIn for business engagement and thought leadership.
. 62 per cent of respondents show increasing acceptance of CGI and digital avatars in influencer marketing, indicating a growing openness to technological advancements.
. 78 per cent of marketers recognize influencers as key players in political awareness campaigns, underscoring their role in shaping public discourse and civic participation.
“Influencer marketing in India has matured into a critical element of digital strategy,” said Zefmo Media co-founder and CEO Shudeep Majumdar. “With 88 per cent of marketers now acknowledging its influence in merging social media with entertainment, and 64 per cent reporting increased ROI through e-commerce, this report highlights the tangible results brands are seeing through influencer partnerships.”
The report highlights technological advancements in the sector, with AI and machine learning increasingly integrated into campaign targeting and optimization. The Advertising Standards Council of India (ASCI) has strengthened regulatory frameworks, and 93 per cent of influencers comply with updated guidelines, ensuring transparency in brand-influencer collaborations. Additionally, 37 per cent of influencers report growing non-commercial government collaborations, reflecting their evolving role in public communication and advocacy.
Zefmo’s influencer marketing report 2023-24 emphasizes adapting to trends, particularly the shift toward local content, the rise of vernacular influencers, and the impact of short-form video content on platforms like Instagram Reels and YouTube Shorts.
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.
