The World: Mumbai - Advertising spend predicted to plummet in 2009

Indian adspend growth, which rose 17 per cent last year, is set to dive to just 2 per cent, according to the latest Pitch-Madison media advertising outlook.

The study warns media owners to prepare for a major slowdown in growth and projects in view of the global fall in spending.

India's FMCG sector is expected to cushion spend for TV, while the upcoming general elections will help spend in print, the survey suggests.

However, it warns that neither medium will see growth and that cinema and outdoor could suffer negative growth during the coming year.

Sam Balsara, the Madison chairman, said: "Optimism and confidence in the future are big drivers of advertising growth."