How Hollywood is cashing in on appetite for branded merchandise in India

The market for licensed merchandise in India is exploding; according to a recent report by ESP, a Group M company, licensing and merchandising (L&M) is a staggering Rs 87,000 crore plus industry in the country. This constitutes between five and seven per cent of the global L&M market, small but significant enough for every superhero franchise to flood the market with a figurine or branded accessory. However, less than 10 per cent of the total Indian L&M pie comes from Indian brands. Hollywood and American pop culture rules the niche, even as studios put their might behind popular domestic television