BS EDIT: Regulating India’s influencer economy

A booming market

• India’s influencer industry to cross Rs 3,375 crore by 2026

• Social media has expanded influence beyond traditional ads

• IIGC aims to promote transparency & accountability

Existing regulations fall short

• ASCI set self-regulatory guidelines, but enforcement is weak

• Sebi penalised misleading financial influencers

• Global models exist, but IIGC lacks deterrent powers

Content moderation challenges

• Balancing free speech & responsible content is complex

• Cases like Ranveer Allahbadia’s controversy highlight risks

• Social media amplifies disputes rapidly

Influencer vs corporate power

• Mondelez pressured a creator over Bournvita’s sugar claims

• Without legal backing, influencers face corporate suppression

• Stronger rights & protections are needed

Strengthening IIGC’s role

• Government collaboration could improve enforcement

• ASCI’s AYUSH partnership curbed misleading drug ads

• IIGC must move beyond voluntary guidelines

The road ahead

• IIGC is a step forward but lacks enforcement

• Future success depends on clearer regulations & penalties

• Until then, buyer beware remains the norm