Srinivasan K Swamy, chairman and the managing director of the R K Swamy BBDO group, was unanimously elected as president for 2012-13 by the participating members at the Annual General Assembly of the India Chapter of International Advertising Association on November 2.
On the sidelines of the development, Swamy, popularly known as Sunder Swamy in the industry, said, "India's USD 5.5 billion advertising industry will see a double digit growth next year."
The veteran industry player added that in today's global economy, associations like the IAA play a pivotal role to build cross-cultural bridges, and help ensure a seamless transition of ideas and interests across the world.
"IAA has promoted the Green Olive Crown awards for creative communication excellence in sustainability. There is one more initiative planned in the green communication area related to cities that we live in. We are also planning a major event that celebrates leadership in marketing, media and advertising, along with a couple of big international conferences and seminars that will provide a platform for knowledge enhancement," he added.
Over the years, the advertising industry has undergone a paradigm shift in its attempt to reach people. Though expenditures in the endeavour have increased substantially, it still has to cover considerable ground to compare with world economies. The per capita advertising expenditure of China is USD 20, whereas that of India is only USD 4.
Swamy said, "Advertisers today do not talk of reaching the consumers but talk of engaging with consumers and enriching consumers' experience. Agency professionals have adapted to these challenges and have been delivering to the current needs of our times."
With increasing television, print and social media awareness, advertisers are now able to penetrate to the remotest corners of the country, he further added.
Swamy is a chemical engineer and a management graduate from Jamnalal Bajaj Institute of Management Studies. He started his career in 1978 as an account executive at his father's advertising agency, R K Swamy Advertising Associates. His success story has inspired many students to take up the profession as a full time career.
"People who do stay back in this industry have reaped big rewards in terms of excitement, great learning, respect and recognition from advertisers and industry colleagues. All major agencies have a process in place to encourage good talent to stay back in the advertising industry," he said.
The other members who were elected on the same day are Kunal Lalani of Crayons Advertising as vice-president, IAA; Monica Tata of Turner as secretary; and Jaideep Gandhi of Jaya Advertising as treasurer.
The new managing committee of the association will include Avinash Pandey, M G Parameswaran, Neeraj Roy, Raj Nayak, Sam Balsara, Ramesh Narayan, Shreyams Kumar, Arunabh Das Shrama, Abhisek Karnani, Manish Advani and Neville Taraporewala.