According to a FICCI-PriceWaterhouseCoopers 2005 annual report on 'Indian Entertainment and Media Industry' for IPEF the compound annual growth until 2010 will be around 19 percent.
Quotes from the report via exchange4media.com:
"The industry has been forecast to outperform the economic growth in each year, till 2010 [...]
"Economic growth, rising income levels, consumerism coupled with technological advancements and policy initiatives taken by the Indian government that are encouraging the inflow of investment, will prove to be the key drivers for the entertainment and media industry," the report said [...] and
"Two factors that will contribute to the growth of the industry are low media penetration in lower socio-economic classes and low ad spends," said Deepak Kapoor [...]
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The India Davos 2006 Report ‘Indian Entertainment and Media Industry' PDF
Information from the FICCI-PwC report about the Online Sector taken from
The Economic Times (India Times)
"total online advertising industry is expected to touch Rs 750 crore ($166 million) by 2010, from the current Rs 100 crore ($22.2 million). "With an estimated 28 million Indians already hooked on to the internet, internet advertising in India is presently worth Rs 100 crore ($22.2 million). With the broadband slowly becoming popular, the segment would show a compound annual growth rate (CAGR) of 50 per cent. Television would dominate the industry with the size growing three times from Rs 14,800 crore ($3.3 billion) to a whopping Rs 42,700 crore ($9.5 billion) by 2010 with the CAGR at 24 per cent."