The Indian online advertising market comprising of text and display advertising will grow to Rs 993 crore (Rs 9.93 billion)in this fiscal from Rs 785 crore (Rs 7.85 billion) in the financial year 2009-10, a study says.

According to a recent survey conducted by the Internet and Mobile Association of India (IAMAI), the Indian online advertising market comprising of text and display advertising will grow to Rs 993 crore in the financial year 2010-2011 from Rs 785 crore in the financial year 2009-2010.

The total online display advertising market is expected to grow by 28 per cent to touch Rs 534 crore (Rs 5.34 billion) in 2010-2011 from Rs 417 crore (Rs 4.17 billion) in 2009-2010.

Banking, Financial Services and Insurance (BFSI) emerges as the leader in both text and display advertising spends with 24 per cent in each category.

Travel is close behind, accounting for 20 per cent advertising spend in both display and text advertising spend.

The survey also highlighted that relatively new advertisers like FMCG and education sector are shelling out more on display advertisements than traditional text advertisements.

FMCG sector which is one of the highest spenders on television advertising is one of the lowest spenders on the Internet.