The Indian advertising market is projected to surge 46% between 2018 and 2021, according to research from Publicis Groupe’s media agency Zenith. That growth is expected to lift India into the top-10 of advertising markets during that period, and the eighth largest in 2021.

In the categories measured (see the infographic), radio is the fourth largest media category, following the large lead of TV, magazines, and the internet. Note the more-than-doubling projection for the internet category.

In the infographic (stated in “crore,” and Indian multiplier representing 10-million Rupees), the existing radio business in India is valued at approximately $370-million. (Comments about our arithmetic are welcome.)

Along with the report comes this comment: “Digital media will continue to grow both in reach and consumption. Television—linear and catch-up—will be on an upward curve. Radio is expected to digitize aggressively in response to streaming services, while both cinema and out-of-home media will innovate and increase reach-led investments.”