What will the new rules for social media influencers mean for them?
In a move to regulate the social media influencer industry, the Indian government has released a set of guidelines for influencers and brands to follow. The guidelines state that influencers must clearly label sponsored content, disclose any relationships with brands they are promoting, and avoid making false claims about products.
The Indian influencer marketing industry is valued at nearly 900 cr and could surpass 2,000 cr by 2025. The new guidelines are designed to protect consumers from being misled by influencers and to create a more transparent industry.
Stock exchange regulator BSE Securities and Exchange Board of India, or the BSE, is planning a regulatory framework for unregulated intelligence and market advisory services given by a particular category.
Stock exchange regulator BSE Securities and Exchange Board of India, or the BSE, is planning a regulatory framework for unregulated intelligence and market advisory services given by a specific category.
On September 7, Mint noted the General Data Protection Regulation would demand that social media influencers reveal any business partners or face a fine of 10 million rupees.
The amount may reach 50 lakh and rise if influencers take matters too seriously.
An investigation by the Indian government’s Advertising Standards Council of India reported that 87 of roughly 400 influencers’ advertisements violated advertising standards regarding disclosure. Numerous influencers failed to supply evidence of their substantial financial ties to personal care, fashion, and electronic brands.