BING, the world’s largest advertising agency, said on Thursday it will spend $250 million on advertising in India by 2021, to reach the 500 million-user mark.
BING’s investment will be made in a number of initiatives, including in local and national markets, and also in India’s online and mobile spaces.
The company said it expects to generate $250.5 million in local revenues, and another $250 to $275 million in national revenues.
The investment will come as a welcome boost to India’s e-commerce and mobile market, which has seen a huge expansion in the past few years.
Bing will invest in marketing, advertising and digital and other efforts, which it expects will help it reach the goal of 500 million monthly active users by the end of 2021.
BINLIM, the largest advertising network in India, and Reliance Jio Infocomm are the other partners on the investment.
The BINlim-based firm said the new investments will enable BING to build on its existing partnerships, such as BINA and BINP, with Jio and Relios.
The Indian government has announced an ambitious target of 5 million internet users by 2022, with the country set to overtake the United States in the coming year.
BIM is one of the leading global online advertising platforms with an average daily online spend of about $100 billion.
BIND, the third largest digital ad network in the world, recently announced an expansion in India.
It will launch its India platform in the country’s second-largest city of Bangalore in 2021.
The companies said the investments will help BING and its partners build on the strengths of their businesses.
BIE will also expand its advertising and marketing programs, including on-site digital, online and offline campaigns, and new online platforms such as digital and mobile commerce and online advertising.
BIGA will expand its online services in India and will create new platforms to support its growing audience in the market.
The announcement comes as India’s government has recently announced a target of 500-million monthly active visitors by 2021.
The government has also announced that it is setting up an Indian internet policy, and aims to provide internet users with greater access to their data and services.